Basically, financial supervision addresses the question whether a pension fund’s assets are proportionate to its liabilities and prevailing risks. In other words, it seeks to prevent under-funding. This is the foundation of the funding system; in combination with adequate buffers, cost-effective contributions and sufficiently inflation-proof pensions, it makes for a durable pension system.
The residential consent process has improved in Christchurch and efforts are being made to streamline planning and consents in Auckland via the Government/council accord and the Unitary Plan. However, meeting the combined three year targets of Christchurch and Auckland would require a major mobilisation of national construction resources. In all likelihood, the build will be stretched over a longer period.