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

 

More Defence Force Personnel Financially Fighting Fit

13 July 2018


The armoury of tools provided to New Zealand Defence Force (NZDF) personnel now include financial capability courses aimed at enhancing their financial security and preparing them better for their retirement.

Liz Huckerby, Chief People Officer of the NZDF, said the courses developed by the Commission for Financial Capability (CFFC) provided key skills for personnel who were looking to make significant financial decisions, including buying a home and saving for retirement. New military recruits also received introductory financial capability training as part of their initial training.

“We have a large number of personnel under 30, and a significant number of people residing in Auckland who are looking at purchasing a first home,” Mrs Huckerby said. “After attending one of the CFFC’s courses, the feedback is they feel better prepared to make often the biggest purchase of their lives. We’ve seen lots of success stories where our young people have been able to get into their own home.

“The Defence Force recently ran an internal campaign aimed at getting people to think about how much money they will need in retirement. Almost 2500 personnel responded to a survey, showing us there is a high level of interest in preparing financially for retirement.

“We will be using this survey data to tailor the courses the CFFC provides and to develop other initiatives aimed at enhancing the financial security of our personnel and their families. ”

Retirement Commissioner Diane Maxwell, who heads the CFFC, said people often underestimated the amount of money they needed to save for their retirement. The earlier they could start planning and contributing to a fund, the better their outcome was likely to be when they were ready to retire.

“The Defence Force is one of a number of organisations we’ve partnered with to deliver our Sorted Workplace programmes,” Ms Maxwell said. “The courses are tailored to the organisation and participants, with the goal of giving people the tools to make the best decisions for themselves and their families.

“Feeling financially secure is part of wellbeing. We know from our research that if people are not stressed about money they can be more focussed on other aspects of their lives, including their job.”

Mrs Huckerby said this was particularly important for Defence personnel, who could be away from home on long deployments.

“This year we are looking forward to partnering with the CFFC to run a further 52 programmes specifically for Defence Force personnel,” she said.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>

ALSO:

Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>

ALSO:

Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO: