About Public Trust
Public Trust is a Crown Entity whose independence is guaranteed under the Public Trust Act 2001.
Established in 1873 to provide independent and reliable trustee services, today Public Trust has 492 staff operating from 30 customer centres and a number of part time offices looking after the interests of 268,000 New Zealanders.
Public Trust is the custodian for the TPS tax pool and its key responsibilities are to:
- Maintain and operate trust accounts in which all client funds will be held. They have sole control over the trust accounts, to the exclusion of TPS.
- Ensure that funds are released and deposits transferred when corresponding monies have been received and/or appropriate documents have been completed by TPS and/or the client.
Public Trust maintains the TPS’ tax pooling records on its own internal systems. These systems are subject to internal and external review. Balances in TPS’ systems are loaded from, and reconciled to, the Public Trust’s systems on a daily basis.