Claim OwnershipCommission for Financial Capability | Podcast
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The Commission is the home of financial capability in New Zealand, helping Kiwis build wealthy lives. Our main focus is increasing the number of New Zealanders who are financially capable, putting them in the best possible position to reach their life goals and reach retirement in good financial health.
Our work is community-based and we collaborate with other government agencies, non-government organisations, the commercial sector and the education sector. We also work with international organisations such as the OECD to contribute to the worldwide effort to build financial capability.
We provide free and independent tools and guides to managing personal finances, which can be found on the Sorted website - http://sorted.org.nz and http://fundfinder.sorted.org.nz
Our work is community-based and we collaborate with other government agencies, non-government organisations, the commercial sector and the education sector. We also work with international organisations such as the OECD to contribute to the worldwide effort to build financial capability.
We provide free and independent tools and guides to managing personal finances, which can be found on the Sorted website - http://sorted.org.nz and http://fundfinder.sorted.org.nz
16 Episodes
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Bev Cassidy-Mackenzie – Chief Executive, Diversity Works NZ (formerly the Equal Employment Opportunities Trust)
“We can talk about age here today, or we can talk about inclusion. How are you including older people in your workplace? That’s really at the crux of what we’re trying to deal with here.”
Blair McCarthy – Acting Director, Office for Seniors, Ministry of Social Development (MSD)
“Myths influence how we think, so to really tackle this, I think we need to address the negative stereotypes head on…. Seniors are already making a hugely positive contribution to our economy – that’s only going to grow into the future”.
Distinguished Professor Paul Spoonley – Pro Vice Chancellor, Massey University
“we’re tracking very fast to that 1 million + over 65’s…. They are breaking the mold – they are acting quite differently to any previous 60+ generations and we’ve got to re think that. How good are our paradigms? How good are our policies? How good are our organisations at reacting to that?”
Lisa Ford – General Manager, Business Mentors NZ
“Send me these people who still want to be active, because boy have I got a deal for them! 30% of my volunteers are retired or semi-retired…we are very fortunate to be able to transfer their skills, knowledge and experience to business owners and start up entrepreneurs”.
Shamubeel Eaqub - Independent Economist & Commentator
“The deep divides really worry me around skills, around ethnicity, around regions. I think that is where we have to look hardest, because it’s in identifying these most vulnerable groups is where we make the investments, where we take the first steps…”
Greg McAllister – GM New Zealand, Chandler McLeod, OCG Consulting Ltd & Luminary
“Older workers want life/work balance, not work/life, they want life/work balance. They want to be able to enjoy life with their families and their grandkids but equally contribute to society… they wanna keep their mind alive”
Vaughan Biggs – GM Human Resources, Spotless Facility Services (NZ) Ltd
“What we would like to see as an employer is NZ and government agencies focusing on best fit retirement options, changing cultures…”
Dr Debra Whitman – Chief Public Policy Officer, AARP visited NZ for the Ageing Workforce Forum and shared some insights and ideas for New Zealand’s future.
“I actually believe that given that we have the longest lifespans in human history, we need to really rethink our whole definition of what we do across the life course.”
The videos referenced in her talk here are available to view at this link:
http://www.cffc.org.nz/reviewretirementincomepolicy/june/notes-from-our-ageing-workforce-forum
Distinguished Professor Paul Spoonley – Pro Vice Chancellor, Massey University
“We’re tracking very fast to that 1 million + over 65’s…. They are breaking the mold – they are acting quite differently to any previous 60+ generations and we’ve got to re think that. How good are our paradigms? How good are our policies? How good are our organisations at reacting to that?”
Diane Maxwell, Retirement Commissioner welcomes the Ageing Workforce Forum’s speakers and outlines the terrain in terms of the challenges and also opportunities for New Zealand.
“If I think back to my grandparents’ generation 65 was considered old. But today people are fitter, healthier, feel younger and are living much longer. The challenge is getting the rest of us to recognise that and appreciate what older New Zealanders contribute to society.”
When we visited Tauranga with Tales from the Tent, we also spoke off camera with the members of the Body and Soul fitness group in the town. As you’ll discover through this conversation, they exemplify that old saying that age is merely a number.
‘We are trying to encourage people to plan ahead and invest productively’. Rob Everett, chief executive at the FMA, spoke at the decumulation forum and highlighted the need for agencies, providers and advisors to work together to lift New Zealander’s capability.
“We’ve wound it back a little bit, but we’ve certainly created some pretty strong incentives for people to put their savings into Super, particularly when they can both draw it out and enjoy income on it completely tax free in retirement.”
Jeremy Cooper, Chairman, Retirement Income, Challenger
“When you actually stare in the face of the amount of the money that is going to sustain you for the rest of your retirement your willingness to take risks with that amount is incredibly different to a 40 year old who still has salary to go back to if something goes wrong with their investments.”
Jeremy Cooper, Chairman, Retirement Income, Challenger
Jane speaks with David Boyle – GM Investor Education, to address some of the common Hits and Myths around Kiwisaver, based on feedback the Commission has received during April’s Kiwisaver survey.
Jane chats with personal finance commentator and seminar presenter Mary Holm about what you can do with your KiwiSaver funds once you reach 65.
- Up until now, what’s been happening with people's money in KiwiSaver when they reach 65?
- What sort of things do people need to think about? What are the rules?
- Do you have to take it all out at 65? Why should you consider leaving some in?
- Can you take your funds out as regular withdrawals rather than a lump sum?
- What do you need to think about in terms of risk and the sort of funds you’re invested in?
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