Annual Report shows ACC on right track

Minister for ACC Nikki Kaye today welcomed the release of the Accident Compensation Corporation’s Annual Report, which shows its financial performance is improving.

ACC has achieved a surplus of $2.1billion - $300 million ahead of budget.

Levies will be reduced in 2015, and more reductions are expected from 2016, as the three levy accounts are now fully funded.

“I have written to the ACC Board to acknowledge this result. The Annual Report shows ACC is making good progress.

“It is embarking on a three-year transformation programme to improve customer service. It is my expectation that this will help to increase public trust and confidence, and support more of our most vulnerable.

“ACC is now essentially fully funded, and careful financial management has meant that we have already been able to reduce motor vehicle levies in 2015/16 so that the average New Zealand vehicle owner will be $135 better off next year.

“In the next fortnight I will be meeting with the Board to discuss key priorities, including the area of injury prevention. I have been pleased to have been advised of the Corporation’s increased focus and commitment in this area.”

A copy of ACC’s Annual Report can be found on its website, http://www.acc.co.nz