Final Design Approved for Tertiary Research Excellence Fund Replacing PBRF (New Zealand, June 2026)
New Zealand confirmed the final design of the Tertiary Research Excellence Fund, which will replace the Performance-Based Research Fund from 2029. The new fund will allocate NZD 315 million per year using a revised set of measures.
New Zealand confirmed the final design of the Tertiary Research Excellence Fund, which will replace the Performance-Based Research Fund from 2029. The new fund will allocate NZD 315 million per year using a revised set of measures.
What Changed?
The government confirmed the final design of a new tertiary research funding model focused on reduced compliance, research degree completions, external research income, citation impact, commercialisation, policy impact, and research capacity.
Old System vs New System
Tertiary research funding was allocated through the Performance-Based Research Fund, which continues through the end of 2028.
The Tertiary Research Excellence Fund will replace PBRF from 2029 and allocate annual research funding using the new design.
Who Is Affected?
Student Impact
Postgraduate students may be affected by how institutions prioritise research degree completions, research fields, and research impact.
Parent / Family Impact
Parents of tertiary students may see institutions place greater emphasis on research outcomes, graduate research pathways, and industry relevance.
School / Institution Impact
Secondary schools may be indirectly affected through future university and tertiary research priorities that shape progression pathways.
Teacher / Staff Impact
Tertiary educators and researchers will be affected by the new performance measures and institutional research funding incentives.
Key Dates
- Final design announced: 2026-06-03
- PBRF continues through: 2028-12-31
- TREF starts: 2029-01-01
What To Do
- Eligible tertiary providers should prepare for the new funding design and monitor TEC implementation guidance before 2029.
What To Watch Next
Detailed implementation guidance, provider readiness requirements, and funding determination changes should be monitored before 2029.
Global Context
The change is significant for international higher education observers because New Zealand is replacing a long-standing performance research funding model with a lower-compliance, impact-focused framework.
Source Record
Source type: Official announcement
Source name: Tertiary Education Commission