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Kaspanz Comment on “Focussing on the Future from CFLRI

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FOCUSING ON THE FUTURE” A DISCUSSION DOCUMENT”

Submission by KASPANZ-Kiwi Saver, Annuities and Superannuation Protection Association New Zealand Incorporated

* Note page 41, Table 9. To the uninformed reader, this table is comparing like with like. It’s not!

The New Zealand calculation in Table 9, should show the after tax projection (the after tax costing is the only one that matters)

Kaspanz submission supports the overall context of this wide ranging document, making a number of succinct comments re the recommendations

KEEPING NEW ZEALAND SUPERANNUATION FAIR AND AFFORDABLE Continue reading Kaspanz Comment on “Focussing on the Future from CFLRI →

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Our Chair’s Letter Sunday Star Times

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On Colin Espiner’s Blog (see below Alec’s Letter)

Published 20th October

Colin Espiner “Our pension penchant” continues a regular theme of headline articles on retirement income, with superficial comment, and doom and gloom ingredients.  Espiner needs to come to grips with the fact the universality of NZ Super and the model utilized is recognized by informed commentators as a world leader, and its simplicity to be treasured and nurtured. The Kiss principle applies, otherwise NZ gets into the maze of difficulties that Australia and the United Kingdom and others have and continue to experience.  Espiner’s article is a simple litany of exaggerations, containing  one liners and left hooks, targeting baby boomers and using emotive words including  financial freight train, gold plated, unfair, not affordable etc.  What’s needed in the context of reviewing this superficial article, is not a defence of the status quo, with both sides slinging mud at each other, but a calm and reflective look at policy levers that could be applied to a range of formula and models applying to retirement income, evidence based research on the various assumptions, trends both financial and social over reasonable time frames, cross party consensus on issues like this, so impulsive  decision making and Government tampering does not occur, and long lead in time frames so the New Zealand population as a whole can adjust to new directions and  also build that knowledge into their own financial planning. The Financial Literacy and Retirement Commission planning document is no timid report, instead it’s a thoughtful and succinct overview of the many issues and policy levers that could be applied to retirement income, containing recommendations to assist future discussion and decision making. Unfortunately the Espiner article contributes little to this conversation!

Alec Waugh

OPINION: Nothing is certain in life, as old Ben Franklin once said, except death and taxes.

The founding father of the United States saw plenty of both in his time, and while he lived to the ripe old age of 84 most of his countrymen weren’t so lucky. Continue reading Our Chair’s Letter Sunday Star Times →

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Government keeps conservative default KiwiSaver funds, to re-tender for providers

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Government keeps conservative mandate for default KiwiSaver funds, to re-tender for providers The government has settled on keeping the existing … More Government keeps conservative default KiwiSaver funds, to re-tender for providers →

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Proceedings of the RPRC Forum: Does the UK’s reform of pensions have lessons for New Zealand?

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The presentations from the RPRC’s 23 September forum Does the UK’s reform of pensions have lessons for New Zealand? are … More Proceedings of the RPRC Forum: Does the UK’s reform of pensions have lessons for New Zealand? →