Former Commerce Commission chair Paula Rebstock has been appointed to head a new board to monitor the government's welfare reforms.

Social Development Minister Paula Bennett says it will oversee delivery and ensure accountability.

The first phase of the reforms start later this year with $287.5 million funding that will be in next week's budget.

The reforms will put tougher job-seeking obligations on beneficiaries and they will be helped with support for childcare and training.

"The lifetime cost of today's total number of beneficiaries is estimated at $45 billion," Ms Bennett said on Tuesday.

"It makes good economic and social sense to provide targeted support up front to get more people into work sooner."

The other members of the board are Dr Ian McPherson, Professor Kathryn McPherson, Andrew Body, Reg Barrett and Debbie Packer.

Ms Bennett says they all have experience in the insurance and finance industries which use "investment approaches" to reduce future liability.