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

 

Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>


Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>



Psychic Ventures: US Consumer Spending On Video Games Jumped By 42% In Jan 2021

On a global scale, there was a 15% increase in digital games revenue in January 2021, pushing the total to $11.6 billion.
In the US, gaming revenue rose to an impressive high during the month thanks to the new generation of consoles. ... More>>

OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>


Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>