retirement.org.nz

GOALS	Create a financially educated population
OUTCOMES	New Zealanders are better educated in financial matters and can make more informed financial decisions throughout their lives.
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.
INDICATORS	Reduce the size of the lowest financial knowledge group from 33% to 25% by 20121.
	Increase the percentage of New Zealanders who use Sorted resources from 19% to 30% by September 2010.
	Maintain 2010 levels of New Zealanders using Sorted resources to help them make a decision about KiwiSaver (28% of 18-65 year olds).
	Increase the proportion of users of Sorted resources that rate them as useful or better (65%, 2010).
	Key stakeholder/peak body2 annual survey on the Retirement Commission's work in creating a financially educated population.3
OUTPUTS	Education and Information

Actively support the development of a trustworthy financial services sector	Contribute to 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.
The impact of legislation and regulation on New Zealanders' ability to prepare financially for retirement.	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.	The Minister agrees that the 2010 review of retirement income policies meets its terms of reference following an independent and rigorous process.
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).	Extent to which the Retirement Commissioner's advice to the Government and its agencies is acted on.
Key stakeholder/peak body annual survey on the Retirement Commission's work in actively supporting the development of a trustworthy financial services sector.	Key stakeholder/peak body annual survey on the Retirement Commission's work in contributing to stable effective government policy
	The Minister is satisfied or better that the 2010 review of retirement income policies meets its terms of reference.
	The Ministers are satisfied or better with the Retirement Commissioner's advice.
Research and Monitoring	Research and Monitoring
Education and Information	Advice
	Education and Information

₁The ANZ-Retirement Commission Financial Knowledge Survey – to measure financial knowledge, people were scored on their answers to 42 financial knowledge questions. Their score determined whether they fell into the low, medium or high knowledge group.

₂Peak body – an association of industries or groups.

₃Measure – 70% or more of survey respondents assess the quality of the Commission's work towards each of its three strategic goals as 'good' or better.