We review the retirement income policies being implemented by the Government and report to the Minister at three yearly intervals in accordance with requirements of the New Zealand Superannuation and Retirement Income Act. The most recent review was released in December 2010 and work on the 2013 review is underway.
In New Zealand retirement income policy is a mix of public and private provision. Public provision of retirement income is provided through New Zealand Superannuation and Veterans’ Pension, supported by the operation of the New Zealand Superannuation fund to smooth the cost over time. Policies encouraging the private provision of retirement income include the voluntary KiwiSaver scheme and programmes run by the Retirement Commissioner aimed at educating people about the need to save for their retirement. The Commissioner is supported in this role by the Commission for Financial Literacy and Retirement Income.
2013 review of retirement income policy
Terms of reference, process, timeline and papers
Work is underway on the 2013 review of retirement income policy. The review process involves consultation, submissions, research and analysis, and culminates in a comprehensive report. A number of background papers and research projects have been commissioned, and will feed into the review.
For details, see 2013 review of retirement income policy.
Retirement income policy position papers
Each paper in this series explains one of the eight objectives of retirement income policy and sets out the Commission’s view. A final paper discusses how to ensure the sustainability of New Zealand’s retirement income policy. The position papers are intended to help promote debate and understanding so New Zealand can develop a consensus on what constitutes sustainable retirement income policy.
Read the policy position papers.
2010 review of retirement income policy
On 7 December 2010 the Retirement Commissioner released the 2010 Review of Retirement Income Policy. You can download a summary containing the executive summary and summary of recommendations, the full report, or the separate sections of the report
For copies of the submissions received during the 2010 review, please email us.
Retirement Income Policy and Intergenerational Equity Conference
To contribute to the 2010 review, the Institute for Governance and Policy Studies at Victoria University, in conjunction with the Retirement Commissioner, held a conference in July 2010 to discuss retirement income policy from an intergenerational perspective.
Earlier reviews of retirement income policy
Before 2010, reviews of retirement income policy were conducted by different groups, appointed by government, with specific terms of reference. Reviews took place in 1991/2, 1997, 2003 and 2007. To read the reports, see the retirement income research and reports page.