Governor-General helps boost financial skills

ROB STOCK
Last updated 10:50 03/12/2013
Sir Jerry Mateparae
PHIL REID/Fairfax NZ
COALITION FOR UPSKILLING: Sir Jerry Mateparae will head a group of banks and financial services providers with the aim of lifting people's money skills.

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Governor-General Sir Jerry Mateparae will head a coalition of banks and financial services providers dedicated to lifting people's money skills.

It is widely agreed that many people lack financial literacy, and the Commission for Financial Literacy and Retirement Income is tasked with lifting it.

Much of its work centres on providing calculators, tools and information through its Sorted.org.nz website, but commissioner Diane Maxwell wants to extend the reach of the commission and has set up a coalition called The Exchange.

The idea is to build financial literacy by tapping into the knowledge of the likes of banks, fund managers and KiwiSaver providers, which could lead to better financial literacy programmes.

Maxwell said: "The goal is to build financial capability which will deliver better outcomes for individuals, communities and, more broadly, the New Zealand economy."

Commerce Minister Craig Foss announced Mateparae's decision to be patron of The Exchange.

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- © Fairfax NZ News

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