Kaspanz Annual General Meeting, August 27th 2013, 1pm Horticultural Hall, 990 Great North Road, Western Springs, Auckland
Chairman’s Welcome – Alec Waugh welcomed 13 members
Apologies – Hugh Black, Richard Waugh
Matters of Business
- To receive and approve minutes of the previous Society meetings. *Note this is the first annual meeting of Kaspanz since its inception in February 2013. Minutes of Committee Meeting Tues June 25th circulated and noted.
- To receive and approve the Chairman’s Report on the Business of the Society( Chairman’s 2013 Annual Report ) – see below, circulated and approved.
- To receive and approve the finances of the Society and the annual financial statement – There is no income and expenditure statement, as all costs to date have been covered by the personal finances of Committee members
- To elect Committee members. As the committee was elected at the inaugural meeting, February 23, 2013 for 2 years, a declaration by the meeting approving of such appointments will be put to the meeting. Declared that Alec Waugh (chair), Ivan Fay (treasurer), Stephen Wealthall (secretary) and Mark Leys (committee member) be the committee.
- To set subscriptions based on a recommendation from the Committee – A sub of $10 per family will be recommended by the committee. Sub of $10 starting Financial Year 1 April 2014 proposed (Alec Waugh), seconded Stephen Wealthall. Carried unanimously.
- To consider any Motions received* Nil received
- General business – Discussion took place on the anomalies produced by NZ Super and other pensions when redundancy or early retirement disadvantaged one spouse. It was agreed that Kaspanz should incorporate action against such anomalies in its general policies but could not act as advocate for individual anomalies at present. Note was made of the ability of Kiwisaver Providers to change their original conditions without notifying contributors.
Chairman’s 2013 Annual Report
Kaspanz was incorporated formally on the 6 March 2013, our official name being Kiwi Saver, Annuities and Superannuation Protection Association New Zealand Incorporated. The Law states within 5 months of the Societies balance date an Annual meeting must be held. Our formative meeting was on Feb 23rd, 2013 whereby I was appointed Chairman, and various positions including the Committee were elected for a 2 year term.
The Kaspanz website, www.kaspanz.wordpress.com has been already a resounding success, refreshed on a regular basis, and with lots of evidence based papers and media commentator articles. It is meeting the requirement of a site with solid information on retirement income issues. The contribution of Stephen Wealthall to this effective Website result has been enormous, thanks Stephen!
Submissions have been made to the 2013 Financial Literacy and Retirement Commission, on retirement Income issues and every opportunity has been taken to attend retirement income seminars and conferences, and to project the voiced of Kaspanz into the media, through letters, print media etc. Kaspanz is off to a sound early start.
A number of foundation principles apply to retirement income considerations and are fundamental to Kaspanz, and are worthy of being repeated in my report
Kaspanz began from concerns that a lot of the debate on retirement income issues and costs is not neutral, is sometimes inaccurate or represents the view of employer groups or industry representatives, or self-styled media commentators, which can often camouflage or skews the assertions made by such groups or individuals.
Kaspanz is very wary of policy projections and cost assumptions based on 2050 or longer time frames. The accuracy and usefulness of such assumptions is very questionable?
Kaspanz supports evidence based research, and trends over reasonable time frames
Kaspanz is also concerned about political meddling. People want consistency, no U-turns and no surprises with retirement income policy, and Kaspanz supports across Parliament accords on issues like New Zealand superannuation.
Kaspanz strongly support the simplicity, model and universality of New Zealand Superannuation, the alternatives just don’t stack up. Kaspanz does not support means testing. Apart from the high administration costs involved, it brings into play attempts to camouflaging individual and couples incomes, raises the spectre of misleading trust and asset protection, and provides the impetus for “them and us” within societies collective public good .
Kaspanz strongly recommends any future intentions to alter New Zealand Superannuation, Kiwi Saver rules or pension entitlements, need to be clearly signalled well in advance, so people can consider, understand and absorb the implications, and modify savings patterns etc.
Kaspanz has also commented on the need to consider annuities as part of the Kiwi Saver package, the current lump sum received on retirement requires discussion and probably modification. The Australian Superannuation industry is very concerned at this lack in Australia, and New Zealand should learn from their experience.
Kaspanz core entity is to represent consumers, and we must remain vigilant in this endeavour. Consumers have many interests, so the task is challenging, but if we can keep evidence based research, equity and fairness to the forefront I think Kaspanz can make a significant contribution to Retirement Income debate and decision making.
Alec Waugh, Kaspanz Chairman August 2013
MINUTES OF THE INCORPORATION OF KIWISAVER, ANNUITIES AND SUPERANNUATION PROTECTION ASSOCIATION, NEW ZEALAND INC. 1PM 23 FEBRUARY 2013, AUCKLAND UNIVERSITY.
Meeting called to order at 1.07pm
Apologies Ruth McLay
Present 15 as per application for incorporation.
Alec Waugh explained to the meeting that the primary purpose for the meeting, was to incorporate the organisation, approve the rules, elect the first officials and committee members, and to sign the “Application to incorporate a society”
Alec explained to the meeting, the primary reason for the formation of Kaspanz and its stated purposes, pointing out Rule 3.1 and 3.2 of the draft rules
The meeting, following discussion, then passed the following motions, all moved by Mr Waugh and seconded by Mr Mark Leys
- This meeting resolves to Incorporate KiwiSaver, Annuities, and Superannuation Protection Association New Zealand Incorporated
- That KASPANZ be the abbreviated name for the Association
- The rules of KiwiSaver, Annuities and Superannuation Protection Association New Zealand Incorporated are adopted.
- That Alec Waugh is the first chairman, Stephen Wealthall is the first secretary and Ivan Fay is the first Treasurer
- That Mark Leys is appointed as a Committee member
All present signed the Application for Incorporation, witnessed by Mr Boyd Miller
The meeting closed at 1.40pm