- Hon Penny Simmonds
The introduction of the new Tertiary Research Excellence Fund (TREF) will direct research effort towards economic growth while cutting red tape, says Penny Simmonds, Minister for Tertiary Education, and Minister of Science, Innovation and Technology.
Cabinet has approved the final design of the TREF, which replaces the Performance-Based Research Fund (PBRF), building on initial decisions in August 2025. The TREF will invest $315 million per year in research capability in the tertiary education system, with funding allocated based on participating providers' research performance.
"The new fund will significantly reduce compliance costs for tertiary education organisations", said Minister Simmonds.
"It enables a move away from the burdensome process of assembling individual Evidence Portfolios that was required under the PBRF."
"It also includes a greater focus on impact - through external research income and new metrics for citations, commercialisation and policy outcomes."
"The TREF will support New Zealand's future skills and innovation needs by rewarding research excellence and impact in a more responsive and efficient way."
The design of the new fund has been informed by the advice of the University Advisory Group, led by Chair Sir Peter Gluckman, as well as subsequent engagement with experts and the sector.
The Tertiary Education Commission will commence operational design of the TREF immediately. Changes will be phased in from 2027, with funding fully aligned to the new framework from 2029.
More information about the TREF can be found on: https://www.education.govt.nz/our-work/strategies-policies-and-programmes/tertiary-and-further-education/tertiary-research-excellence-fund
