A report on how the Government Superannuation Fund Authority is operated is generally favourable, but has found room for improvements.
The five-yearly review of the Super Fund for 68,000 current and former civil servants shows it meets best practice guidelines and has strong risk management.
But the reviewers found the fund - which manages investments of $3.3 billion - should renegotiate fee structures to save costs and formalise some procedures.
Finance Minister Bill English says the Government will discuss the recommendations with the board.
