ACC Reserves

[Bald Eagle]

So even though we have a major event with significant claims they've got it covered.

"The estimate needs to be kept in context of ACC having $14 billion in reserves and claims costs each year of more than $3 billion,'' he said. ''People who are injured or who have suffered the loss of a loved one, can be assured that ACC has significant and sufficient reserves (http://www.stuff.co.nz/national/christchurch-earthquake/4722701/Christchurch-quake-ACC-bill-370m)to meet the cost of all entitlements that will need to be funded as a result of this event.''

[MSTRS]

Just been reading that. Check out the comments section...the majority seem to 'get it'.

Or are they just KBers in disguise?

Mind you, there's a few naive suckers as well...
Richard11 minutes agoReport Abuse
I realise people comment without knowing what they are commenting about. ACC has investments of $14 billion. These investments are part of the scheme to get ACC to being self-sufficient by 2019, at which time the ACC levy is to be removed. It would take a law change to be able to access these investments, and hopefully they are not. Best to pay a little more now and then down the road this tax is gone.