Parliamentary Annuities Determination 2017

2017/38

Coat of Arms of New Zealand

Parliamentary Annuities Determination 2017

Pursuant to section 43 of the Members of Parliament (Remuneration and Services) Act 2013 and to the Remuneration Authority Act 1977, the Remuneration Authority makes the following determination (to which is appended an explanatory memorandum).

Determination

1 Title

This determination is the Parliamentary Annuities Determination 2017.

2 Commencement

This determination is deemed to have come into force on 1 January 2017.

3 Expiry

This determination expires on 31 December 2017.

4 Annuity for former Prime Minister

The annuity payable under section 43(1)(a) of the Members of Parliament (Remuneration and Services) Act 2013 to a person who has held the office of Prime Minister for not less than 2 years (whether for a continuous period or for periods totalling 2 years) is payable at the yearly rate of the lesser of the following:

(a)

$10,345 for each complete year of the total period for which the person held the office:

(b)

$51,725 (annual maximum annuity payable).

5 Revocation

The Parliamentary Annuities Determination 2016 (LI 2016/22) is revoked.

Dated at Wellington this 24th day of February 2017.

Fran Wilde,
Chairperson.

Geoff Summers,
Member.

Len Cook,
Member.

Explanatory memorandum

This memorandum is not part of the determination, but is intended to indicate its general effect.

This determination, which is deemed to have come into force on 1 January 2017, increases the annuity payable to a person who has held the office of Prime Minister for not less than 2 years (whether for a continuous period or for periods totalling 2 years) (a former Prime Minister).

The yearly rate that forms the basis for calculating the annuity is increased from $10,160 to $10,345 with the maximum annuity payable being increased from $50,800 to $51,725.

Under section 43(1)(b) of the Members of Parliament (Remuneration and Services) Act 2013, the surviving spouse or partner of a former Prime Minister must be paid an annuity at half that yearly rate.

This determination continues the past practice of adjusting the annuities by having regard to growth in the New Zealand Consumers Price Index, and in Prime Ministerial remuneration.

The determination replaces the Parliamentary Annuities Determination 2016, which expired on 31 December 2016. The determination is for a year from 1 January 2017. The making of the determination was delayed beyond the expiry of the previous determination in order to allow the Remuneration Authority to carry out preparatory work, including consultation with those affected.

This determination expires on 31 December 2017.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 2 March 2017.