Monthly Archives: March 2017


Ralph Stewart, Bernard Hickey and Liz Koh have been touring NZ with their 2 hour seminars and refreshments, all at no cost to the consumer. These three are at the top of the tree in relation to combined retirement income knowledge and issues, and for anyone interested in the subject material, a must attend seminar.

I went along to the North Shore event (28 March 2017), a very pleasant location with a good turnout.


Bernard is a commentator, website financial information provider, he told us just turning 50 years of age, currently member of the Press Gallery, and a journalistic background, and presents in a softer manner, than his articles sometimes project. He did a challenging top down presentation focusing on” how long are you going to live”, “work force trends”, housing ownership and costs, and included some excellent statistical slides.  It was a good presentation.

* If I could add anything it would be to emphasize that while the life expectancy/longevity  issue is important, current research is explaining , that  for” many” senior years will include considerable injuries and illness issues, which will not only incur costs, but will affect quality of life,  and restrict work opportunity.

A little cohort snippet.  On January 1968 I and 72 other males joined the Les Spencer Police cadet wing for a 19 month training course. We were all 18 years old, now 67. We are meeting in 2018 for a 50th year re-union. 10 of the 73 have passed; from a range of accidents and health issues.


Liz is a Wellington based financial advisor and commentator, many of her articles appearing in the Dominion newspaper

Liz concentrated on how long I will live, how much money do I need and what will my investment strategy (buckets) be. She broke down the senior years into Live it up, Fix it up and Wind it down periods in the life cycle.

Liz has a nice manner, involved in her work, and this was a good presentation

*If I could add anything, some comment on the topic of Fee’s and active/passive investment strategies could be incorporated. While actual regular savings is the key, fees and  returns over time of different types of investment need to be communicated.


Ralphs background at Senior and Chief Executive Levels of business and Government agencies, including the insurance industry and ACC, provides a bucketful of experience. Here is a passionate advocate of retirement income issues, and currently Chief Executive of Life time Retirement Income.

Ralph concentrated on the Life time Income Variable annuity product, using 4 actual Case Studies to project a better understanding of the subject. The investment Strategy and payments , insurance component and regulatory environment were commented upon. Ralph presents well, his earnest and knowledgeable   approach comes through all the time.

*If I had anything to further contribute it would we be that Ralph could have spent a further 5-10 minutes on the regulatory/insurance side of the product, without in any way losing his audience. Will annuities be the future trend of retirement income strategy?


This was a quality seminar, which ran to time, and the refreshment’s which followed allowed ample informal interaction. Those in attendance got value for their time, and hopefully it all added to their knowledge and follow up outcomes.

If you get a chance to hear these three this time or future, grab it.


Posted Alec Waugh






The comments begin. Littlewood is first of the block!

Without a Political accord or a Working party review e.g. Tax working group 2010 , Government decisions on NZ Superannuation will always produce variable results. The Prime Ministers announcement of age and residency changes, a long way out has some beneficial components, but could have been so much better. Across party accord , strong empirical evidence and comparative analysis prior to announcements would have been preferable. A retirement income task force could still have a role to play, but smart thinking  from either the political machine, or media commentators is unlikely.





Monday 6th March 2017

Text too small?

The age of entitlement for New Zealand Superannuation – the universal national pension – will rise from 65 at present to 67 – but there will be no change for the next 20 years.

From July 1, 2037, the pension entitlement age will rise gradually to 67, Prime Minister Bill English announced today.

However, there will be no legislation before Parliament to enact the policy until after the Sept. 23 election, leaving the policy hostage to both government formation talks with New Zealand First, which supports no age change, and to the possibility of a change government.

The changes “will not affect anyone born on or before June 30, 1972,” English said.

Posted by Alec Waugh