Submissions open for Review of Retirement Income Policies
New Zealanders have the opportunity to contribute to the government’s Review of Retirement Income Policies, including questions around Superannuation and KiwiSaver.
Submissions are now open for the Review, being run by the Commission for Financial Capability as the office of the Retirement Commissioner. The Review is held every three years and makes recommendations to government on how policy could be improved to ensure New Zealanders continue to have a good standard of living as they age, both now and in the future.
The terms of reference for the 2019 Review ask the Retirement Commissioner to report on the public’s perception of the purpose and principles of Superannuation, whether the country can continue to afford it under its current settings and the impact of retirement policies on current and future generations.
Regarding KiwiSaver, CFFC has been asked to report on the public’s perception of ethical investing and fees, and the effect on KiwiSaver and Super of the changing nature of work, declining rates of home ownership and the increasing number of people working past 65.
The government also wants advice on how it can help New Zealanders stretch their savings through retirement, and policy recommendations to help vulnerable and low-income groups.
The Review will also present international trends to show how other countries are coping with an ageing population.
Interim Retirement Commissioner Peter Cordtz said the Review team was busy undertaking research, running focus groups and in-depth interviews and meeting with people who also work to help New Zealanders in retirement.
“We want to hear from as many individual New Zealanders and organisations as possible, and value what they have to say,” said Cordtz.
The Retirement Commissioner’s report with recommendations is due to be tabled in Parliament in December.