Kiwis one step closer to lower ACC levies

ACC Minister Judith Collins is welcoming the announcement that the Accident Compensation Corporation (ACC) is looking into dropping its average levy rates.

Today ACC starts its public consultation on levy rates for levies in the upcoming 2014/15 year.

Earlier this year, Ms Collins signalled $300 million worth of levy cuts for taxpayers for 2014/15. 

“These levy cuts reflect positive gains made by the corporation across all its activities,” Ms Collins says. 

“ACC’s role is to reduce injuries and to help the injured back to independence after their injury as this is best for them, their families and their communities. The Corporation’s investment team has been in place for 17 years and has a long record of returns above benchmarks.

“Earners, employers and motorists may pay less in levies in 2014/15 as a result of ACC’s solid performance.

“ACC also protects New Zealanders by placing a greater focus on evidence based injury prevention.

“When teamed with progress in client services, the possibility of lower levies shows excellent improvement in the balance between the quality of services and the price New Zealanders pay for it.”

New Zealanders have until 15 October to have their say on ACC’s proposed levy rates by visiting ACC’s website: http://www.acc.co.nz/about-acc/consultation/levy-consultation/index.htm.

This feedback will be incorporated into ACC’s recommendations to the Government for consideration later this year.