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Sunday Star Times 19 October 2013

THE GREAT GIFT OF NZ SUPER

OPINION: For the great majority of people, NZ Super is an important part of the financial plan.

Most of us do not want to be completely dependent on it, but NZ Super does, nevertheless, provide an excellent base retirement income. Continue reading NZ Super – The $500,000 Gift →

On Colin Espiner’s Blog (see below Alec’s Letter)

Published 20th October

Colin Espiner “Our pension penchant” continues a regular theme of headline articles on retirement income, with superficial comment, and doom and gloom ingredients.  Espiner needs to come to grips with the fact the universality of NZ Super and the model utilized is recognized by informed commentators as a world leader, and its simplicity to be treasured and nurtured. The Kiss principle applies, otherwise NZ gets into the maze of difficulties that Australia and the United Kingdom and others have and continue to experience.  Espiner’s article is a simple litany of exaggerations, containing  one liners and left hooks, targeting baby boomers and using emotive words including  financial freight train, gold plated, unfair, not affordable etc.  What’s needed in the context of reviewing this superficial article, is not a defence of the status quo, with both sides slinging mud at each other, but a calm and reflective look at policy levers that could be applied to a range of formula and models applying to retirement income, evidence based research on the various assumptions, trends both financial and social over reasonable time frames, cross party consensus on issues like this, so impulsive  decision making and Government tampering does not occur, and long lead in time frames so the New Zealand population as a whole can adjust to new directions and  also build that knowledge into their own financial planning. The Financial Literacy and Retirement Commission planning document is no timid report, instead it’s a thoughtful and succinct overview of the many issues and policy levers that could be applied to retirement income, containing recommendations to assist future discussion and decision making. Unfortunately the Espiner article contributes little to this conversation!

Alec Waugh

The founding father of the United States saw plenty of both in his time, and while he lived to the ripe old age of 84 most of his countrymen weren’t so lucky. Continue reading Our Chair’s Letter Sunday Star Times →

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STANDARDISED REPORTING IS GETTING CLOSER. Sorted .org.nz is launching on Nov 11,2013 a Kiwi Saver comparison tool, the intention to … More Kiwisaver comparison tool coming soon →

Our Policy is generally not to publish anonymous posts or comments.   We publish the below as it shows a … More Misunderstanding of Government Superannuation Fund →

Financial Services Council Future of Super Conference in Auckland today. Copies of the research can also be downloaded from the … More Future of Super Papers →