New Zealanders are financially sorted | retirement.org.nz

New Zealanders are financially sorted

GOALS	Create a financially educated population
GOALS
OUTCOMES	New Zealanders are better educated in financial matters and can make more informed financial decisions throughout their lives.
OUTCOMES
IMPACTS	Improved public understanding of lifetime financial management.
	Improved public knowledge of how to go about financial planning.
	New Zealanders can make informed decisions on participation in KiwiSaver or other savings options in the context of their wider personal financial situation.

MAIN MEASURES	Changes in attitudes, levels of financial knowledge and action taken as a result of accessing the Commission’s education programmes and information.
MAIN MEASURES
INDICATORS	Reduce the size of the lowest financial knowledge group from 33% to 25% by 2012.
	Increase the percentage of New Zealanders who use Sorted resources from 19% to 30% by September 2010.
	Maintain 2007 levels of New Zealanders using Sorted resources to help them make a decision about KiwiSaver (28% of 18-65 year olds).
	Achieve targets for increases in Sorted website visits, calculations via website and booklets distributed.

OUTPUTS	Education and Information

Develop a trusted financial services sector	Maintain stable effective government policy

New Zealanders have more trust in the financial services sector.	Government’s retirement income policies remain effective and stable.

The sector is encouraged to be open, fair, accessible, expert and relevant and provide products and services that are transparent and able to be clearly understood.	The Government’s retirement income policies are reviewed every three years.
Legislation and regulation operate effectively.	The Minister for Social Development and Employment receives sound advice on retirement income related issues.
New Zealanders are better able to interact with the sector.	Advice to the Minister and the statutory three-yearly review of retirement income policies are informed by an ongoing research programme.

Development and use of improved forms of disclosure.	Extent to which the Retirement Commissioner’s advice to the Government and its agencies is acted on.
Industry commitments to improved training processes and standards and to standardised codes of practice and conduct.	The Minister's level of satisfaction with the Commissioner’s advice.
Public perception of the industry and its practices (through public surveys and media commentary).	The Minister’s satisfaction with the 2010 review of retirement income policies fulfi lling its terms of reference.

Set a new benchmark for the percentage of adult New Zealanders who agree or strongly agree with the statement 'I trust most financial advisers'.	The Minister is satisfied or better with the Retirement Commissioner’s advice.
Further standards will be developed for 2010/11.	The Minister is satisfied or better that the 2010 review of retirement income policies fulfils its terms of reference.

Research and Monitoring	Research and Monitoring
Education and Information	Advice
	Education and Information

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