Treaty of Waitangi settlements have topped $1 billion, and Ngai Tahu and Waikato-Tainui - the iwi that negotiated ratchet clauses as part of their settlements - are likely to be entitled to further payouts within two years.
The Office of Treaty Settlements has confirmed it has committed more than $1 billion to final and comprehensive settlements with iwi.
Ngai Tahu, as part of its 1997 settlement, and Waikato-Tainui, as part of its 1995 settlement, negotiated a relativity clause with the Crown, entitling the iwi to a percentage of all future settlements, if claims exceeded $1 billion.
However, Office of Treaty Settlements director Paul James said the relativity mechanism was yet to be triggered, as it was calculated in 1994 dollar terms, and was adjusted for interest as well as inflation.
According to a report from the office, a settlement of $50 million in 2008-09 is the equivalent of $24 million in 1994.
Figures released to the Otago Daily Times under the Official Information Act show the 2008-09 relativity statement is estimated at $787 million.
"Depending on the progress of settlements, the mechanism is likely to be triggered in the next two years," Mr James said.
More than 60 outstanding settlement claims involving more than 20 claimant groups remain around the country.
When the $1 billion mark is reached, Ngai Tahu will be entitled to 16.1% of future settlements, and Waikato-Tainui 17%.
Minister for Treaty of Waitangi Negotiations Christopher Finlayson said the "National Government has a goal of settling all historical Treaty claims by 2014".
"Since it is a goal, rather than a deadline, whether it's met will rely on the efforts of all parties dealing in good faith . . . I am using my best efforts to reach that goal, or get close to it," Mr Finlayson said.
"Any terms of the agreements could be varied with the consent of both parties," he said.
Asked if the Government would consider buying out the relativity clause before it is triggered, the minister replied it had no plans to buy out those terms of the agreements.
Kaiwhakahaere (chairman) of Te Runanga o Ngai Tahu, Mark Solomon, was not available for comment.
