The 20 industry fund members of Industry Fund Forum (IFF) are asking their insurers to fund the IFF Mental Health & Wellbeing Program, which could eventually draw government funding as well.
A steering committee – comprised of Helen Hewett (IFF), Peter Gebert (Cbus), Damien Hill (REST), Paul Watson (MTAA Super), Teifi Whatley (Sunsuper) – is currently working on an information memorandum for insurers. Paul Watson, MTAA deputy executive director, said the group had received a positive response from the insurers they had already spoken to. The committee is proposing that insurers donate 15 bps of the premiums they attract from their participating funds. The funding is not designed to raise current premium levels. The broad industry initiative follows earlier programs by MTAA, which has a partner program with Lifeline, and Cbus. Both funds represent industries with a higher than average incidence of depression and suicide among members. The program will work with industry experts and service providers and focus on early support and intervention.
8 August 2006 00:00
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Investments
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark.
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