KASPANZ ANNUAL GENERAL MEETING, 2020

INTRODUCTION

Covid19, has altered the way many societies operate. Kaspanz is a small national consumer membership organisation, with retirement income its principal focus, and evidence-based information its primary function. It’s always been an effort to get sufficient members in one place to meet our statutory obligations under the Companies Act, but to date we have considered incorporation an important element for the consumer voice. The current review outcomes from the 100 yrs. old Incorporated Societies Act are awaited

For the purpose of this year’s Annual meeting, the matters of business are set out below for members information, the use of our e-mail tree to facilitate communication, and we will use the no objection principle, to determine members acceptance of the report. Any comment to Alec Waugh alwaugh@xtra.co.nz

This meeting also acknowledges with thanks the efforts of Treasurer Adrienne Dodge, who steps away from the role, our new Treasurer Tony Hamilton taking over the reins

Matters of Business

To receive and approve minutes of the previous

Society meeting. The 2019 Annual Meeting was held on September 24^h 2019 , minutes have been circulated.

To receive and approve the Chairman’s Report on the Business of the Society* The Chairman’s report is shown below.
To receive and approve the finances of the Society and the annual financial statement* Annual Financial statements.
To elect Committee members. Current committee is

Alec Waugh (Chairman), Mark Leys, Tony Hamilton

(Treasurer) and Larry Robbins (Webmaster). The

chairman is located in Nelson, Tony in Northland , and Larry and Mark in Auckland. Kaspanz welcomes expressions of interest for the committee, retirement income is a fascinating topic, and tasks are not onerous

To set subscriptions based on a recommendation from the Committee: A sub of $10 per family is currently in place, the recommendation is to continue at that amount.

To consider any other Motions received.

Nil

Chairman’s 2020 Annual Report

Kaspanz was incorporated formally on the 6 March 2013, a few days after our inaugural meeting of February 23, 2013. Our principal role is 2-fold:

To be a voice in the discussion and debate regarding retirement income issues including New Zealand Superannuation, Annuities, Kiwi Saver and other retirement schemes, by advocating for those persons either in receipt of the above or contributing to New

Zealand schemes of a similar nature;

To disseminate general information about the benefits, strengths and weaknesses of funds lodged with the schemes above, for those in receipt of funds or annuities from the above schemes, and to help protect members’ interests in such funds:

As an Incorporated society Kaspanz is far more than just an individual blog, this message needs to be reinforced at every opportunity.

The Kaspanz website, w ww.kaspanz.com is a success, refreshed weekly with lots of evidence-based papers and media commentator articles. It is meeting the requirement of a site with solid information on retirement income issues. Thanks to Larry Robbins who has kept our website both functioning, and enhanced, also to those members who have provided feedback.

Kaspanz has continued to attend various Retirement Income seminars or similar gatherings organised by a variety of bodies, all with the intention of increasing our visibility and contributing/learning from the experience. Where possible, the opportunity has been taken to write to media outlets (Listener, The Herald, The Press, Grey Power ) on key issues, and also letters have been sent to the key Parliamentary parties, primarily on New Zealand Superannuation. Approximately 10 letters have been published.

At the end of each year KASPANZ produces its top 15 retirement issues and distributes this widely. The 2019 Retirement Income review was the subject of a formal submission. A number of organisations have been spoken to by the Chair on Retirement Income issues, and these appear to have been well received. The Chairman is available for formal presentations on Retirement income on request

Members newsletters have been circulated during the calendar year (3) and these have also been sent to Parliamentarians and known media commentators through an e-mail tree.

Our relationship with Auckland University Retirement Policy and Research Centre has continued to develop, we appreciate that support.

Kaspanz continues to note, the retirement income sector is full of commentators, many self-appointed, often operating from a particular policy or economic perspective, and frequently putting forward views which are sometimes poorly researched, at times badly informed and at times simply misinformation. Bias is inherent in all of us, but improved transparency, knowledge and stated expertise to assist readers/listeners ability to make better informed judgements on the substance of an opinion is required. Social media platforms require significant improvement in this area of communication.

The objective must always be, ensuring evidence-based research is always a dominant factor in such discussions, and public policy decisions should be rational and fair for the greater community good!

Kaspanz has been critical in the past of the Retirement Commission office and its approach to Retirement Income issues. The Financial Literacy approach is laudable, but the resource to be effective is very questionable, and without it, the outcomes limited. The Commission should instead be an authority on Retirement Income issues, focusing on its own research and associated library, with commissioned and contracted research undertaken on key topics. Kaspanz welcomes the appointment of the new Commissioner Jane Wrightson.

Kaspanz has continued to push for a “commission or working party group“ on retirement income issues. Political decisions would have more substance if they were underpinned by a Task force on Retirement Income, similar to the 2010 Working

Group on Tax issues and the recent Michael Cullen chaired Review of the NZ Tax system. There has been no Commission or working Task Group on retirement income since 1991

I urge members to activate the e-mail alert on our website front page. Any new update on the website sends you an email and it’s a good way to keep in touch with Kaspanz news and current issues.

The work, support and input of committee members Larry Robbins, Mark Leys, Tony Hamilton in the Kaspanz development and voice, is greatly appreciated by myself as Chairman.

KASPANZ SUBSCRIPTIONS ARE DUE: April 2020-March

2021

As a member or supporter of Kaspanz the time has come to collect the annual $10 per family household fee. This is due now, and the Kiwi bank account for your payment is Kiwi Bank 389015011140900.
You can pay by any method you wish, e.g. direct debit, telephone, or call into Kiwi bank and pay your $10.00 directly into the account number above.
Remember; include your surname when you pay, so we can identify the payment.

*New members need to fill in an application form from our website

Alec Waugh

Chairman

Kiwi Saver, Annuities and New Zealand Superannuation

Protection Society Incorporated

Kiwisaver, Annuities and Superannuation

Protection Association New Zealand Incorporated

Income & Expenditure

Year Ended 31 March 2020

Income

Subscriptions received 220.00

Total Income 220.00

Expenditure

Rent 15.00

IT 76.29

Seminar & Consumables 170.11

Total Expenditure 261.40

Surplus (deficit) for year (41.40)

Kiwisaver, Annuities and Superannuation

Protection Association New Zealand Incorporated

Financial position as at 31 March 2020

Equity

Accumulated funds 1 April 2019 781.10

Current Year Surplus (deficit) (41.40)

Total Equity 739.70

Represented by:

Assets

KiwiBank Account 739.70

Total Cash/Bank 739.70

less Liabilities

Liabilities 0

Net Assets

AGENDA

KIWISAVER, ANNUITIES AND SUPERANNUATION PROTECTION ASSOCIATION NEW ZEALAND INCORPORATED (KASPANZ) ANNUAL GENERAL MEETING, September 24, 2019, 12.30PM HORTICULTURAL HALL, 990 GREAT NORTH ROAD, WESTERN SPRINGS, AUCKLAND

CHAIRMAN’S WELCOME:

The chair welcomed everyone to the meeting.

PRESENT.

Alec Waugh, Tony Hamilton, Larry Robbins, Eric Bowater

APOLOGIES received from: Mark Leys, Adrienne Dodge, Richard Waugh, Dan Dolejs, and Bill Davey, Rex Morris

MATTERS OF BUSINESS

TO RECEIVE AND APPROVE MINUTES OF THE PREVIOUS AGM (2018).

The minutes of the 2018 Annual Meeting held on September 4th, 2018, had been previously circulated. The meeting approved the minutes (Waugh/Hamilton) as a reasonable record of the proceedings.

MATTERS ARISING FROM THE MINUTES 2018

Facebook page for KASPANZ created. Alec noted no appointment yet for position of Retirement Commissioner

THE CHAIRMAN’S REPORT ON THE BUSINESS OF THE SOCIETY.

The previously circulated Chairman’s report was received and approved (Waugh/Bow water).

The Chairman spoke to the report, noting the rationale for Kaspanz existence, and its primary focus of being a consumer voice, informative, research based and seeking to influence retirement income issues. The regular refreshing of Website content was noted.

The Chairman further commented that the regular newsletters, which were distributed both to members and Parliamentary members and media commentators was well received.

The good relationships with staff at the Auckland Business School e.g. Susan St John and Margaret Claire Dale were noted.

A formal submission to the 2019 Retirement Commission Review of Retirement Income had been made.

While the website was ticking along nicely, refinements were required, and some access issues needed to be resolved. Alec and Larry would work on that.

TO RECEIVE AND APPROVE THE FINANCES OF THE ASSOCIATION AND THE ANNUAL FINANCIAL STATEMENT*

The Chairman reported that any inward monies were a combination of subscription and donations.

A number of the Kaspanz Committee past and present had covered virtually all Kaspanz costs, but income was required to meet Website registration costs, consumables, Conference registration. Any increase in Kaspanz advocacy and visibility would almost certainly incur increased costs.

Current balance was $771.10

The Annual Financial Statement and Finances of the Associations were accepted and approved by the meeting. Moved ( Robbins /Hamilton).

SELECT COMMITTEE MEMBERS.

Committee members Alec Waugh (Nelson), Mark Leys (Auckland), Adrienne Dodge (Auckland) and Tony Hamilton (Northland) were all appointed for a 2 year term, no election required.

Adrienne had advised this would be her last term as Treasurer, and this position will need to be filled at the next AGM. Tony Hamilton indicated he may be able to assist.

TO SET SUBSCRIPTIONS BASED ON A RECOMMENDATION FROM THE COMMITTEE*

A sub of $10 per family is currently in place. The meeting determined that the current subscription would remain.

TO CONSIDER ANY MOTIONS RECEIVED:

Nil were received

GENERAL BUSINESS

There was a wide ranging discussion on Kaspanz, including the fact Kiwi Saver issues must always be a dominant factor, all noting the pool of potential Kaspanz members was enormous from this area.

The meeting noted the contribution of the Chairman to Kaspanz.

The Incorporation component of Kaspanz was an issue to be addressed carefully, and the meeting was of a mind not to rush into change. The compliance issue of a Reviewer for the Kaspanz financial statements was discussed, a number of suggestions made.

The issue of a quorum for the AGM was noted, there is a requirement for 10 members to approve the meeting decisions, and members not present will be e-mailed with the draft minutes to gain their approval.

The meeting closed 1pm

MINUTES KASPANZ ANNUAL GENERAL MEETING, AUGUST 29, 2017, 12.30PM HORTICULTURAL HALL, 990 GREAT NORTH ROAD, WESTERN SPRINGS, AUCKLAND

Chairman’s Welcome:

The chair welcomed everyone to the meeting.

Present.

Alec Waugh, Mark Leys, Eric Bowater, Adrienne Dodge, Valerie Calvert, Tony Hamilton, Ron & Margaret Garnett, Murray McElwain

Apologies received from: Michael Moynihan, Richard Waugh, and Dan Dolejs. Bill Davey

*The Chairman advised that Michael, Kaspanz webmaster had advised of his pending resignation due to a significant health issue

MATTERS OF BUSINESS

 To receive and approve minutes of the previous Society meetings. The minutes of the 2016 Annual Meeting held on August 30, 2016, had been previously circulated. The meeting approved the minutes as a reasonable record of the proceedings. In response to a question the chairman confirmed Kaspanz had tax exempt status.

 The Chairman’s Report on the Business of the Society. The previously circulated Chairman’s report was moved as received (Waugh/Leys). The Chairman spoke to the report, noting the rationale for Kaspanz existence, and its primary focus of being a consumer voice, informative, research based and seeking to influence retirement income issues. The regular refreshing of Website content was noted. Chairman further commented that the regular newsletters, which were distributed both to members and Parliamentary members and media commentators was well received. The good relationships with staff at the Auckland Business School e.g. Susan St John and Margaret Claire Dale was noted, and their recent coverage of Kaspanz in their newsletter was appreciated. A wide ranging discussion took place on Website management and possible options, and a similar discussion re Face book presence. The Chairman’s report was adopted

 TO RECEIVE AND APPROVE THE FINANCES OF THE ASSOCIATION AND THE ANNUAL FINANCIAL STATEMENT* The Chairman reported that inward monies were a combination of subscription and donations. No outward expenditure had occurred, with Kaspanz costs since inception being carried principally by a number of the committee members. Discussion followed on future costs etc. The chairman in response to a question said costs were Website consumables, registration etc., printing costs, and attendance at seminar, conference registration fees, and the issue of subscriptions to date, had been more of gentle reminders, rather than a

formal follow up etc. A wide ranging discussion took place, with Adrienne to address some issues re membership list, and then to more formally follow up requests for membership renewals.

 SELECT COMMITTEE MEMBERS. Committee members Alec Waugh, Mark Leys, Adrienne Dodge and Tony Hamilton were all appointed for a 2 year term. Michaels pending resignation was discussed and noted with regret, the meeting decided the status quo would apply until resignation formally actioned, and some issues re Website management resolved

 TO SET SUBSCRIPTIONS BASED ON A RECOMMENDATION FROM THE COMMITTEE* A sub of $10 per family is currently in place. The meeting determined that the current subscription would remain. Discussion centred on subscription collection methods.

 TO CONSIDER ANY MOTIONS RECEIVED

No motions had been received.

GENERAL BUSINESS

There were no specific items of general business. Discussion centred on possible opportunities for Kaspanz, the Chairman noting the Incorporated Society status and obligations, while at times onerous were also helpful in reminding parties Kaspanz was more than just a blog, but a consumer member organisation.

MINUTES KASPANZ ANNUAL GENERAL MEETING, AUGUST 30 2016, 12.45PM HORTICULTURAL HALL, 990 GREAT NORTH ROAD, WESTERN SPRINGS, AUCKLAND

Chairman’s Welcome:

The chair welcomed everyone to the meeting.

Present.

Alec Waugh, Mark Leys, Eric Bowater, Adrienne Dodge, Arthur Calvert, Valerie Calvert, Tauira Te Kapua

Apologies received from: Michael Moynihan Ivan Fay, Tony Hamilton, Richard Waugh, and Dan Dolejs

MATTERS OF BUSINESS

To receive and approve minutes of the previous Society meetings. The minutes of the 2015 Annual Meeting held on August 25th 2014, had been previously circulated. The meeting approved the minutes as a reasonable record of the proceedings. The chairman advised that the word Kaspanz had been added to the Kiwi Bank system re Kaspanz, so members paying annual membership fees at the counter could easily have the organisation identified. He also advised that the requirements of the Companies office had all been met, and further after a long process, Kaspanz was now recognized by IRD as being of charitable status, and exempt from withdrawal tax. Mark Leys commended the chairman for his diligence and persistence in resolving this issue.
The Chairman’s Report on the Business of the Society. The previously circulated Chairman’s report was moved as received (Waugh/Leys). The Chairman spoke to the report, noting the rationale for Kaspanz existence, and its primary focus of being informative and influencing on retirement income issues. The regular refreshing of Website content was noted. The chairman further commented that a review of the Website presentation was shortly to be underway. Favourable comment was made about the regular newsletters and the effort being made to increase visibility, by being seen at key events and making comment on key issues. The Chair noted his recent meeting with David Boyle of the Commission for Financial Capability and the good relationships with staff at the Auckland Business School e.g. Susan St John and Claire Dale
To receive and approve the finances of the Society and the annual financial statement* The Chairman reported that with the resignation of Mr Ivan Fay, the post was currently vacant but a motion to address this issue was shortly to be put to the meeting. He advised the current status of the finances, and the fact there had been only one withdrawal in the past 12 months. It was noted that the costs of the organisation admin were currently being carried by the good will of committee members. Discussion followed on future costs etc., the chairman advising the family membership fee of $10 was primarily sought to be used for website costs and also registration fees for conference attendance. The motion that Adrianne Dodge be appointed to the committee and the post of Treasurer was put and carried.
Select Committee members. The chair advised that no election was required as the current committee was elected through to 2017.
To set subscriptions based on a recommendation from the Committee* A sub of $10 per family is currently in place. The meeting determined that the current subscription would remain. Discussion centred on subscription collection methods.
To consider any Motions received

One motion to amend the rules had been received by the Secretary. Kaspanz Principles is adopted. The paper had been circulated and was discussed. The motion to approve the paper was put (Waugh/Bowwater) and carried

GENERAL BUSINESS

There were no specific items of general business.

2013

Chairman’s Welcome – Alec Waugh welcomed 13 members

Apologies – Hugh Black, Richard Waugh

Matters of Business

To receive and approve minutes of the previous Society meetings. *Note this is the first annual meeting of Kaspanz since its inception in February 2013. Minutes of Committee Meeting Tues June 25^th circulated and noted.
To receive and approve the Chairman’s Report on the Business of the Society( Chairman’s 2013 Annual Report ) – see below, circulated and approved.
To receive and approve the finances of the Society and the annual financial statement – There is no income and expenditure statement, as all costs to date have been covered by the personal finances of Committee members
To elect Committee members. As the committee was elected at the inaugural meeting, February 23, 2013 for 2 years, a declaration by the meeting approving of such appointments will be put to the meeting. Declared that Alec Waugh (chair), Ivan Fay (treasurer), Stephen Wealthall (secretary) and Mark Leys (committee member) be the committee.
To set subscriptions based on a recommendation from the Committee – A sub of $10 per family will be recommended by the committee. Sub of $10 starting Financial Year 1 April 2014 proposed (Alec Waugh), seconded Stephen Wealthall. Carried unanimously.
To consider any Motions received* Nil received
General business – Discussion took place on the anomalies produced by NZ Super and other pensions when redundancy or early retirement disadvantaged one spouse. It was agreed that Kaspanz should incorporate action against such anomalies in its general policies but could not act as advocate for individual anomalies at present. Note was made of the ability of Kiwisaver Providers to change their original conditions without notifying contributors.

Chairman’s 2013 Annual Report

Kaspanz was incorporated formally on the 6 March 2013, our official name being Kiwi Saver, Annuities and Superannuation Protection Association New Zealand Incorporated. The Law states within 5 months of the Societies balance date an Annual meeting must be held. Our formative meeting was on Feb 23^rd, 2013 whereby I was appointed Chairman, and various positions including the Committee were elected for a 2 year term.

The Kaspanz website, www.kaspanz.wordpress.com has been already a resounding success, refreshed on a regular basis, and with lots of evidence based papers and media commentator articles. It is meeting the requirement of a site with solid information on retirement income issues. The contribution of Stephen Wealthall to this effective Website result has been enormous, thanks Stephen!

Submissions have been made to the 2013 Financial Literacy and Retirement Commission, on retirement Income issues and every opportunity has been taken to attend retirement income seminars and conferences, and to project the voiced of Kaspanz into the media, through letters, print media etc. Kaspanz is off to a sound early start.

A number of foundation principles apply to retirement income considerations and are fundamental to Kaspanz, and are worthy of being repeated in my report

Kaspanz began from concerns that a lot of the debate on retirement income issues and costs is not neutral, is sometimes inaccurate or represents the view of employer groups or industry representatives, or self-styled media commentators, which can often camouflage or skews the assertions made by such groups or individuals.

Kaspanz is very wary of policy projections and cost assumptions based on 2050 or longer time frames. The accuracy and usefulness of such assumptions is very questionable?

Kaspanz supports evidence based research, and trends over reasonable time frames

Kaspanz is also concerned about political meddling. People want consistency, no U-turns and no surprises with retirement income policy, and Kaspanz supports across Parliament accords on issues like New Zealand superannuation.

Kaspanz strongly support the simplicity, model and universality of New Zealand Superannuation, the alternatives just don’t stack up. Kaspanz does not support means testing. Apart from the high administration costs involved, it brings into play attempts to camouflaging individual and couples incomes, raises the spectre of misleading trust and asset protection, and provides the impetus for “them and us” within societies collective public good .

Kaspanz strongly recommends any future intentions to alter New Zealand Superannuation, Kiwi Saver rules or pension entitlements, need to be clearly signalled well in advance, so people can consider, understand and absorb the implications, and modify savings patterns etc.

Kaspanz has also commented on the need to consider annuities as part of the Kiwi Saver package, the current lump sum received on retirement requires discussion and probably modification. The Australian Superannuation industry is very concerned at this lack in Australia, and New Zealand should learn from their experience.

Kaspanz core entity is to represent consumers, and we must remain vigilant in this endeavour. Consumers have many interests, so the task is challenging, but if we can keep evidence based research, equity and fairness to the forefront I think Kaspanz can make a significant contribution to Retirement Income debate and decision making.

Alec Waugh, Kaspanz Chairman August 2013

MINUTES OF THE INCORPORATION OF KIWISAVER, ANNUITIES AND SUPERANNUATION PROTECTION ASSOCIATION, NEW ZEALAND INC. 1PM 23 FEBRUARY 2013, AUCKLAND UNIVERSITY.

Meeting called to order at 1.07pm

Apologies Ruth McLay

Present 15 as per application for incorporation.

Alec Waugh explained to the meeting that the primary purpose for the meeting, was to incorporate the organisation, approve the rules, elect the first officials and committee members, and to sign the “Application to incorporate a society”

Alec explained to the meeting, the primary reason for the formation of Kaspanz and its stated purposes, pointing out Rule 3.1 and 3.2 of the draft rules

The meeting, following discussion, then passed the following motions, all moved by Mr Waugh and seconded by Mr Mark Leys

This meeting resolves to Incorporate KiwiSaver, Annuities, and Superannuation Protection Association New Zealand Incorporated
That KASPANZ be the abbreviated name for the Association
The rules of KiwiSaver, Annuities and Superannuation Protection Association New Zealand Incorporated are adopted.
That Alec Waugh is the first chairman, Stephen Wealthall is the first secretary and Ivan Fay is the first Treasurer
That Mark Leys is appointed as a Committee member

All present signed the Application for Incorporation, witnessed by Mr Boyd Miller

The meeting closed at 1.40pm

KASPANZ

KiwiSaver, Annuities, New Zealand Superannuation, Protection Society

Kaspanz Meetings

Surplus (deficit) for year (41.40)

Total Cash/Bank 739.70