The New Zealand Superannuation Fund is an investment fund that accumulates and invests Government contributions. Established under the New Zealand Superannuation and Retirement Income Act 2001, the Fund was created to partially provide for the future cost of New Zealand Superannuation. Like many countries around the world, New Zealand has an ageing population, with the number of retired people expected to double by 2050. Accordingly, the cost of providing New Zealand Superannuation is also expected to double in this period.