Views sought on future retirement income policy

Now is the time to have your say if you’ve got a view on what the government needs to consider for future retirement income policy.

The Retirement Commission is asking for input into its retirement income policy review which it produces for the government every three years.

Retirement Commissioner Diana Crossan says the government is interested in the developments and emerging trends relating to retirement income provision since the 2007 review.

The terms of reference for the review cover three main topics. They are:

• Consideration of the interaction of retirement income policy with policies on housing, long term care and health, as well as data requirements for reliably forecasting and modelling.

• Discussion of the products financial services are or could be providing, including KiwiSaver, and an analysis of what further might be done to enhance markets and consumer trust in this sector.

• Address the wellbeing of the current and future retired population, including particular population groups such as women, and discuss the role that communities and government can play. This should also cover how the financial crisis might affect the adequacy of retirement income provisions for individuals at various life stages.

Diana Crossan says these are important issues particularly given the economic downturn and significance of our ageing population.

For more information go to www.retirementorg.nz/review10-submissions

Submissions close 5pm, 30 April 2010.

ENDS

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