Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Older Persons Day Highlights Financial Issues

30 September 2005

Older Persons Day Highlights Financial Issues

Since 1990, the United Nations has declared October 1 as the International Day of Older Persons.

By designating a “special day” for seniors, the UN was giving recognition to the contributions of older citizens to development and also drawing attention to a demographic phenomenon: the greying of the population.

“You could call it ‘the age of aging’,” says 78-year-old Boyd Klap, one senior at least who has no intention of letting the years slow him down or limit the contribution he makes to society.

The aging population and the ways in which people approach their later years in life has been a subject of great interest to Mr Klap who has worked with the government on superannuation policy and planning and has represented New Zealand at a related OECD conference.

“One of the biggest issues facing people who are living longer is coping financially. Even those who have savings or superannuation on retirement can find that because they live longer than they expected that the money runs out.”

For a growing number of older New Zealanders, the solution to that problem has been putting to use an asset many of them have worked hard to acquire – their home.

As chairman of home equity release company, Sentinel, Mr Klap has been in an excellent position to see the difference made to many people’s lives by taking advantage of the money they have tied up in bricks and mortar.

“The great thing is they can enjoy the fruits of the hard work they put into buying their own home while still living there,” says Mr Klap who is a firm believer in the concept of “ageing in place”.

“It is so much better or older people to remain in the homes until the end of their lives, remaining in a familiar, supportive community, rather than moving into residential care.”

Mr Klap says the New Zealand government is one of many governments and international bodies that support the concept of “ageing in place”.

“Of course, as people age, there will be aspects of their house, not designed with old age and impairment in mind, that mean modifications are needed to make it safe and comfortable for the older occupant. This is another way in which releasing equity in the home can help the older person to live in their own home much longer.”

Like many older people, Mr Klap fiercely guards his independence.

“It is very satisfying for me to be working with an organisation that helps others to keep their independence too.

“That’s a great thing to think about on the International Day of Older Persons.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news