New Name “Retirement Commission” and their policy paper on NZ Superannuation

The Retirement Commissioner  has announced a rebrand   “The Commission for Financial Capability has a refreshed Māori name, and returned to our founding English name. We are now:

Te Ara Ahunga Ora Retirement Commission“.

Kaspanz was highly critical of the previous re-branding issues by then Retirement Commissioner, Diane Maxwell , so a return to the original branding is positive. Sound decision!

Below is a policy paper from the Commission, on the NZ Retirement Income system.

Conclusion

The New Zealand retirement income policy system performs well when assessed against OECD indicators. The universality and amount of New Zealand Super are effective in preventing elderly poverty and avoid inequalities related to individuals’ work histories. Nonetheless, the performance of the New Zealand retirement income system needs to be continuously monitored to effectively address potential issues, such as significant changes to the cost of living. KiwiSaver, unlike New Zealand Super, is linked to individuals’ earnings and work histories. Therefore, any changes that increase the role Kiwisaver plays in retirement income present a risk of less equitable outcomes.

https://cffc-assets-prod.s3.ap-southeast-2.amazonaws.com/public/Uploads/Retirement-Income-Policy-Review/TAAO-RC-Policy-Paper-2021-02.pdf

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