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New Zealand Gazette – 1999 – No. 101

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✨ Parliamentary and Departmental Notices

26 AUGUST NEW ZEALAND GAZETTE 2419

Parliamentary Notices

Office of the Clerk

That the petition of Mr Frederick Richards has lapsed.

Dated at Wellington this 19th day of August 1999.

D. G. McGEE, Clerk of the House of Representatives.

ps6198

Citizens Initiated Referenda Act 1993

Notification of Lapsed Petition

Certification of Indicative Referendum Petition

Pursuant to section 18 of the Citizens Initiated Referenda Act 1993, I certify:

Departmental Notices

Accident Rehabilitation and Compensation Insurance Corporation

Accident Insurance Act 1998

Consultation on Proposed Changes to the Earner Levy and Premium

ACC is responsible for managing the Earners’ Account, which pays for the treatment of non-work injuries sustained from 1 July 1992 by New Zealanders in paid employment (except self-employed who have chosen to insure with a private insurer from 1 July 1999).

The Earners’ Account is funded in two ways:

By accident compensation premiums for non-work injuries which occur on or after 1 July 1999; and
By the levies for prior claims which occurred on or before 30 June 1999.

The Earners’ Account was previously funded on a pay-as-you-go system, therefore insufficient reserves exist to fund the total ongoing costs. Our actuaries estimate the unfunded liability of the Earners’ Account at $299 million. New Zealanders in paid employment will continue to pay a levy for prior claims to ACC for up to 15 years or until reserves are sufficient to cover the total claim liability (whichever comes first).

Recent performance in scheme management means this prior claim levy can be reduced from the current rate of $0.17 (G.S.T. exclusive) per $100 of liable earnings.

In addition, a reduction in the current rate of accident compensation premium of $1.0744 (G.S.T. exclusive) per $100 of liable earnings is possible as a result of sustained support and success of injury prevention and injury management initiatives.

ACC invites interested people to make submissions on both the setting of the premium, and levy before a recommendation is made to the Minister for Accident Insurance. The new rates will take effect from 1 April 2000.

ACC is proposing the following 2000/01 funding options (below) for the Earners’ Account. As the composite premium and levy is collected by IRD, it must be a multiple of 10 cents on a G.S.T. inclusive basis in order for the composite rate to be incorporated into the PAYE tables.

Full details of the options are set out in the consultation paper.

ACC invites earners to make submissions on the above proposals. A discussion paper (including the proposed regulations) and a copy of the actuarial advice on which the levy and premium assessments are based are available by writing to:

Earners’ Account Consultation
ACC
P.O. Box 242
WELLINGTON

or by contacting the ACC Business Service Centre on 0800 222 776.

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VUW Te Waharoa — NZ Gazette 1999, No 101

NZLII — NZ Gazette 1999, No 101

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏛️ Lapsing of Petition by Mr Frederick Richards

Domain🏛️ Governance & Central Administration
Dated19 August 1999
KeywordsPetition, Lapsed, Parliament
👱🏽 Names

Frederick Richards (Mr), Petition lapsed

👩‍💼 Officials

D. G. McGEE, Clerk of the House of Representatives

🏛️ Certification of Indicative Referendum Petition under Citizens Initiated Referenda Act 1993

Domain🏛️ Governance & Central Administration
KeywordsReferendum, Petition, Certification

💰 Consultation on Proposed Changes to the Earner Levy and Premium under Accident Insurance Act 1998

Domain💰 Finance & Revenue
KeywordsACC, Earner Levy, Premium, Consultation

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