Despite the introduction of Kiwisaver there are still 457 private or Employer Managed Superannuation Schemes, with 380,000 members in NZ. … More Private and Employer Managed Superannuation Schemes
Annuities keep money coming in
Diana Clements has written a solid article in the NZ Herald May 2 2015 edition on the value of annuities, … More Annuities keep money coming in
Annual Reminder on Tone of Contributions
Against some opposition, I made a decision on starting the Kaspanz website, that no style, spelling or content editing of … More Annual Reminder on Tone of Contributions
Martin Hawes views on Home Equity Release (Reverse Annuity Mortgages)
Martin’s paraphrase of his ‘Sunday Star Times’ article, 26th April 2015, whose copyrights we acknowledge.
Last week we learned that the Reserve Bank has concerns about “reverse annuity mortgages”. These are financial products that older people buy which allow them to re-mortgage the house for cash on which to live. Banks (mostly Heartland and ASB) will lend retired people money for lifestyle purposes. Interest accrues but does not have to be paid in cash; it is added to the capital sum and the whole lot is repaid when the retiree (or her estate) sells the house.
In my view these are great products as they allow people with a valuable house to travel or replace the car. Those who are asset rich but cash poor can stay in their houses and draw on their capital. For some people, the ability to borrow cash in this way will be an excellent choice even though the accruing interest will reduce wealth. Continue reading Martin Hawes views on Home Equity Release (Reverse Annuity Mortgages)
RPRC Quarterly Update, Volume 8 Issue 1, March 2015
The RPRC Quarterly Update and the Leading Article by RPRC co-director Susan St John – ‘Improving the Affordability of New … More RPRC Quarterly Update, Volume 8 Issue 1, March 2015
Migration Effects on NZ Pension Burden
Migration Effects on NZ Pension Burden I have been looking (without much success) for information that would clarify the effects of … More Migration Effects on NZ Pension Burden
LONGEVITY RISK: SETTING THE LONG TERM MORTALITY IMPROVEMENT RATE
The last post from ‘The Economist’ indicated that demographic factors could have a large influence on ‘the economic burden ‘ … More LONGEVITY RISK: SETTING THE LONG TERM MORTALITY IMPROVEMENT RATE
NZ Pension Rates
Here are the 2015 Rates Here are the 2014 rates from the University of Auckland Business School 2014
The Age Invaders
Our members Alec Waugh and Hilary Vautier have reviewed the ‘The Economist’ article “The Age Invaders‘. As well as … More The Age Invaders
KASPANZ Newsletter No 3 – Mar 2015
Click HERE to view