New in-depth report on welfare released today

Social Development Minister Paula Bennett says a new in-depth report released today shows welfare reforms are saving New Zealanders billions of dollars.

Today the Ministry of Social Development published the 2013 Benefit System Performance Report, the first internally produced actuarial report on the lifetime cost of New Zealand’s benefit system.

“This report drills down into the independent Taylor Fry valuation released earlier this year, to better understand what is working well in reducing welfare dependency and where our focus should be in the future,” says Mrs Bennett.

“As at 30 June 2013, the lifetime cost of the current beneficiary population has been put at $76.5 billion, which is $7.4 billion less than it was expected to be at this stage.  Of this, the actuary finds that $4.4 billion is directly related to the welfare reforms and the Ministry of Social Development’s performance,” says Mrs Bennett.

For further information www.msd.govt.nz