18 Feb 2016

NZers told to consider retirement and finances

6:26 pm on 18 February 2016

The Commission for Financial Capability wants to do more to engage New Zealanders about retirement policies as it undertakes its first major review since 2013.

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Photo: 123rf.com

The commission kicks off a year-long public consultation process tomorrow, and will set up tents in public places, markets and music festivals to invite people of all ages to share their financial concerns.

Retirement commissioner Diane Maxwell said a lot of people did not understand the relationship between taxes and superannuation, and how different policies affected retirement.

She said the 2013 review was focused on politicians, and discussions on raising the eligibility age for retirement were shut down without real engagement with taxpayers.

Ms Maxwell said discussions on superannuation, KiwiSaver, housing and the ageing workforce would be raised at different stages throughout the year, and the voices of real people would be collated.

The year-long process would also involve consultation with 12 CEOs across a range of government institutions, and will present its findings to parliament in December.

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