Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Mind the Gap forum highlights financial vulnerability

Mind the Gap forum highlights the financial vulnerability of families when long term illness strikes

Each year in 54,800 Kiwi households (a Tauranga-sized city) the main earner’s income is lost through long term illness. More than half lose it for six months or more. Unexpected long term illness is the most likely source of financial hardship for New Zealand families.

The Financial Services Council (FSC) is hosting a half day forum in Auckland on Tuesday 17 November entitled Mind the Gap to highlight the financial vulnerability of families when a main income earner is unable to work because of long term illness.

FSC CEO Peter Neilson said the key findings of in-depth research will be presented at the forum including that the average household needs $683 a week after tax to make up for the loss of a main earners income. By comparison, the maximum benefit for a couple with children is $348 after tax.

“The research revealed disturbing knowledge gaps about benefit entitlements – for example, few New Zealanders are aware that if their partner earns $30,000 or more, they probably won’t be eligible for a job placement benefit” (formerly known as the sickness benefit).

Mr Neilson said the forum will cover:

• New research detailing how much Kiwis value and protect their incomes

• First-hand experiences from patient support groups of the financial cost of long term illness

• Explanations from Government agencies of the limits of the benefit safety net



• Affordable options from the insurance industry for Kiwis to protect their incomes

• Real life stories of people who have benefited from income protection insurance

Presenters will include representatives from patient advocacy groups the Cancer Society, Stroke Foundation and Heart Foundation; representatives from the Ministry of Social Development and Accident Compensation Corporation; and FSC members representing the financial services industry.

The event will be of interest to personal finance, health and political reporters and columnists.

Mr Neilson said attendance is free for: Journalists, Personal finance advisers, Political spokespeople/policy advisers, Employer/employee organisations, Government agencies, Healthcare organisations and Iwi, hapu, whanau.

Mind the Gap Income Protection Forum details

Time and Date: 9am – 1pm, 17 November 2015

Venue: Robb Lecture Theatre, Faculty of Medical and Health Sciences, University of Auckland, Park Road, Grafton

(Directly across the road from the main entrance to Auckland Hospital)

Registration: www.mindthegap.co.nz/forum

Enquiries: fsc@fsc.org.nz

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

National Terrorism Threat Level Moves To Medium
Medium is defined as a terrorist attack is assessed as feasible and could well occur. The new level remains higher than it was before the 15 March terrorist attack when the threat level was low. More>>

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Environment Aotearoa 2019: Report Warns Environment In Serious Trouble

The report is jointly produced by the Ministry for the Environment and Statistics New Zealand, and is a follow on from the last report in 2015.

The report says the way New Zealanders live and make a living is having a serious impact on the environment, and the benefits New Zealanders get from being in nature, though not measured or quantified, could be lost. More>>

 

Gordon Campbell: On Scrapping The Capital Gains Tax

As PM Jacinda Arden said yesterday, there was no point in Labour bringing a proposal into the House that it didn’t have the votes to get passed. Looking back, maybe she always felt this outcome to be inevitable... More>>

ALSO:

City Rail Link: Billion Dollar Cost Rise (And Preferred Bidder)

The revised cost envelope for completing the entire Auckland City Rail Link project now totals $4.419 billion. The revised cost has yet to be endorsed by the project’s sponsors (the Crown and Auckland Council). More>>

ALSO:

Meth Scare: Debt Write-Off For HNZ Meth Testing Evictions

People living in Housing New Zealand (HNZ) properties who were wrongly evicted because of flawed methamphetamine contamination policies will have their related debts with the Ministry of Social Development (MSD) written off. More>>

ALSO:

RNZ Report: Fears Grow For NZ Nurse Kidnapped In Syria

A New Zealand nurse working for the Red Cross was captured by Islamic State (IS) in Syria more than five years ago, and there are now public pleas for any information that could help bring her home. More>>

ALSO:

Streets Blocked In London: Climate 'Extinction Rebellion' Reaches Aotearoa

Across the world, thousands of people are taking part in a rebellion to avert climate, ecological and human catastrophe. This begins in Aotearoa New Zealand today. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels