A referendum on introducing a compulsory retirement savings scheme was held in New Zealand on 26 September 1997. The question put in the referendum was, “Do you support the proposed compulsory retirement savings scheme?” The proposal was rejected by 91.8% of voters, with a turnout of 80.3%.
The design of the proposed savings scheme and the referendum were a result of the coalition agreement between the National Party and New Zealand First following the 1996 general election. The referendum was set up by the Compulsory Retirement Savings Scheme Referendum Act 1997.
|Source: Nohlen et al.|
- ^Nohlen, D, Grotz, F & Hartmann, C (2001) Elections in Asia: A data handbook, Volume II, p724 ISBN 0-19-924959-8
- ^Preston, David A. (November 1997). “The compulsory retirement savings scheme referendum of 1997”. Social Policy Journal of New Zealand (9). Retrieved 3 December 2011.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.