The 2013 review

Under the New Zealand Superannuation and Retirement Income Act 2001, the Retirement Commissioner is required to review retirement income policies every three years. The most recent review was in 2013

Terms of reference

The terms of reference identified the following topics for the 2013 review:

  1. An update of and commentary on the developments and emerging trends in the provision of retirement income since the 2010 review, both within New Zealand and internationally
  2. The intergenerational impacts of New Zealand’s retirement income policy, with due consideration given to: (a) the effects of increased longevity on present retirement savings schemes, (b) alternative retirement savings approaches, and (c) the sustainability of New Zealand Superannuation
  3. An assessment of the role of private savings for retirement. This assessment should cover: (a) trends in KiwiSaver, particularly withdrawal patterns of those retiring and the issues that these may raise, and (b) the role of the financial services sector in helping to ensure the adequacy of retirement income for New Zealanders
  4. The contributions made by other policies and programmes, such as in housing and health, to maintaining New Zealanders’ retirement income
  5. Women’s future retirement income prospects
  6. The role of financial education and financial literacy in retirement income policy

Terms of reference and letter from Minister of Commerce (PDF 342.96 KB, Sep 2013)

Background papers

We commissioned background papers for the 2013 review of retirement income policies. Some papers from previous reviews are also available. 

The review structure

The structure for the 2013 review consisted of the project team, several reference groups and an advisory group. Participation in these groups does not imply any endorsement of the final outcome of the review, which is solely the responsibility of the Commission.

Government Officials Reference Group

  • Peter Alsop – New Zealand Productivity Commission
  • Margaret Davison – Ministry of Pacific Island Affairs
  • Richard Hawke – Economic Development Group, Ministry of Business, Innovation and Employment
  • Adam Hunt – Financial Markets Authority
  • David Law – New Zealand Treasury
  • Michele Lloyd – Statistics New Zealand
  • Sacha O’Dea – Ministry of Social Development
  • Michael Peters – Ministry of Health
  • Murray Shadbolt – Inland Revenue

Finance Sector Reference Group

  • Kirk Hope – New Zealand Bankers' Association
  • Bruce Kerr – Workplace Savings NZ
  • Peter Leitch – Professional Advisers Association Inc
  • Lyn McMorran – Financial Services Federation Inc
  • Peter Neilson – Financial Services Council of New Zealand
  • Bill Rosenberg – Council of Trade Unions
  • Jill Spooner – Women in Super
  • Stephen Summers – Business NZ
  • Nigel Tate – Institute of Financial Advisers

Non-Government Organisations Reference Group

  • Raewyn Fox – New Zealand Federation of Family Budgeting Services
  • Jean Fuller – National Council of Women in New Zealand
  • Lisbeth Groenbaek – Age Concern
  • Andrew Hubbard – New Zealand Association of Citizens' Advice Bureaux
  • Roy Reid – Grey Power Federation
  • Ros Rice – New Zealand Council of Social Services
  • Pele Walker – PACIFICA
  • Wendi Wicks – Disabled Persons Assembly

Project team

  • Malcolm Menzies – Commission for Financial Literacy and Retirement Income
  • Kathryn Maloney – Commission for Financial Literacy and Retirement Income
  • Sarah Brown – Editorial Adviser