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

Gordon Campbell: On The Hong Kong Protest Movement

Nearly ten weeks after the huge Hong Kong protests began, managing to still get 1.7 million people onto the streets in the rain is a testament to how strong the pro-democracy movement has become...

The pro-democracy protests enjoy huge support among Hong Kong’s youth, partly because the democratic systems currently at risk have only a limited time span. More>>

ALSO:

 
 

Welfare: More Measures To Help Those Facing Homelessness

Ministers have announced $54 million in Government funding for initiatives which will support at-risk individuals and whānau to stay in their existing tenancies. The funding will also provide additional wrap around services. More>>

ALSO:


Corrections: New Strategy On Māori Reoffending And imprisonment

Authentic co-design with Māori, incorporating a Te Ao Māori worldview, and greater connectedness with whānau are key elements of Hōkai Rangi, Corrections’ new departmental strategy designed to address the long-term challenge of Māori reoffending and imprisonment. More>>

ALSO:

Pacific Island Forum: Australia v Everyone Else On Climate Action

Traditionally, communiques capture the consensus reached at the meeting. In this case, the division on display between Australia and the Pacific meant the only commitment is to commission yet another report into what action needs to be taken. More>>

ALSO:

Unscoped Or Missed Damage: Resolution For Canterbury Owners Of On-Sold Homes

People with over-cap on-sold* properties in Canterbury can now apply for a Government payment so they can get on and repair their homes. More>>

ALSO:

Hamilton-Auckland: First Urban Growth Partnership Signed

New Zealand’s first urban growth partnership between the Government, local councils and mana whenua was signed at a meeting of mayors, chairs and ministers in Hampton Downs today. More>>

ALSO:

Vote On Action Next Week: Secondary Principals Walk From Negotiations

“Unfortunately we consider there is no further value in continuing negotiations at this point. The government has not been able to table an offer that will be acceptable to our members.” More>>

Patrol Car Stolen, Glocks Taken: Manhunt In Gore

The driver rammed the patrol car before fleeing on foot with Police chasing, also on foot. The man has then circled back around, stolen the patrol vehicle, which had the keys left in it, and rammed another Police car... Two Police-issued Glock pistols were stolen. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels