NZ women under retirement spotlight

Last updated 12:55 04/10/2012

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The future retirement prospects of Kiwi women is a key focus on the next review of retirement income policies.

The review is done every three years by the Retirement Commissioner.

Next year's report, which is due in August, includes women in retirement and private savings in its terms of reference.

Retirement Commissioner Diana Crossan said the review was an important tool for alerting the Government to trends that might affect the income of future generations.

"We need to regularly review and assess where we are to ensure universal New Zealand Superannuation is available for Kiwis who are currently in their 30s and 40s," she said.

Five main topics will be covered by the review, including;

* an update on local and international trends since the 2010 report

* intergenerational impacts such as increased longevity, alternative retirement savings methods and the sustainability of New Zealand Superannuation

* the role of private savings for retirement, including Kiwisaver withdrawal patterns and their impact

* the effect of other policies such as housing and health on retirement income

* how New Zealand women fare in retirement.

The advisory group supporting the review includes the deputy chair of the Superannuation Fund, Catherine Savage and Consumer New Zealand chief executive Sue Chetwin.

Also involved is Tahu Patiki, ex-CEO of Te Runanga o Ngai Tahu who helped set up the iwi's savings scheme.

The fourth member is Peter Hughes, head of Victoria University's School of Government and former CEO of the Ministry of Social Development.

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