RETIREMENT INCOME PUBLIC SUMMIT: 26 APRIL 2019

HI to all. Having been off shore for  4 weeks, and then  a Kaspanz computer crash, its nice to be back online. I attended the above summit and the following perceptions ( valid or invalid) I noted on the flight home.

  1. NZ Superannuation model is  simple and sound,the cost pressures low in comparison to other OECD countries.
  2. Fiscal impact are always important, productivity improvements within the NZ economy would if achieved, overcome most future costing concerns.
  3. The Last Task Force on Retirement Income was 1991.
  4. The Retirement Commissioner will shortly be announced, it’s a cross-road appointment for this entity, who are also tasked with the 3 yearly review to Government due end of this year.
  5. Data capture on retirement income issues require improvement and comparative analysis Data within the OECD Is vital.
  6. Drawing down of funds from capital lump sums upon retirement needs both Government support and involvement.
  7. Financial Literacy is a great theory, nobody disagree;s but achieving it may be the impossible dream, so don’t waste resource trying?
  8. New Zealand Fee’s have been a golden mile for providers for a long time, NZ pays more in Fees than Aussie and most others. Government has to start talking this “outrage down”, someone has to cap  the excessive grab, and guidelines and monitoring is required.
  9. Women are often disadvantaged in schemes and pension etc.  Do something!
  10. Workforce participation by 65 yr old above  is  increasing rapidly. Probably due to necessity,  but only the educated have a real choice to  work or not. Recruitment agencies and work force HR groups, engage in active discrimination practice.
  11. How do we convince both the young, and the policy makers, the models of NZ Super/Kiwi Saver are sound and can be around for decades.
  12.  We are living longer, but are we healthier? Senior years its the quality of life issue, rather than living 2/3 years longer. Be wary of those who proclaim, the  senior years are so much more healthy.

Posted by Alec Waugh May 2

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