Media Release                                                                                 

25 June 2008

Retirement Commissioner welcomes Government’s new working group

Retirement Commissioner Diana Crossan has welcomed the Government’s decision to set up a cross-government working group to look at the pressures of the ageing population on New Zealand’s retirement income policy.

Ms Crossan said she was pleased with the Government’s response to the 2007 Review of Retirement Income Policy, released today.

“I welcome the decision to set up a cross-agency working group to look at the future fiscal costs of New Zealand Superannuation and KiwiSaver, and a number of other issues to do with the ageing population,” Ms Crossan said.

“These include supporting older New Zealanders to find and stay in work if they choose to, trends in home ownership, the impact of older people’s health costs and the need for comprehensive statistics and research to help us plan for the future.

“I look forward to being consulted on this work and monitoring its progress.

“While we are pleased with the response from the Government there are a couple of points we will follow up on with the Minister at our next meeting.”

The Review is an independent assessment of government retirement income policies which the Retirement Commissioner is required to carry out every three years.  The 2007 Review was tabled in Parliament in December.  The next review will be carried out in 2010.

For a copy of the Government’s response to the 2007 Review of Retirement Income Policy go to: www.beehive.govt.nz/minister/ruth+dyson

For a copy of the Review and background papers go to: www.retirement.org.nz

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