Scholarships

• Purpose
• Key requirements
• Value and tenure
• Priority topic areas
• Applications
• Selection criteria
• Previous recipients
• Regulations
• Enquiries

Purpose

The purposes of the scholarships are to:

• Build New Zealand’s capability in the field of retirement income research
• Obtain new research findings that contribute to policy formulation and improved understanding of retirement income issues.

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Key requirements

Applicants must be intending to undertake Masters or PhD study at a New Zealand university.

Applicants for the scholarship must:

• Display an affinity for researching questions related to retirement income
• Propose a research project that will produce useful results
• Have an excellent academic record
• Be a New Zealand citizen or permanent resident

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Value and tenure

Up to one Masters (by thesis) and one PhD may be awarded in any one year.

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Priority topic areas

This is a representative rather than an exhaustive list of retirement income policy research areas. Applicants may propose other topics they believe to be in keeping with the purpose of the scholarships scheme.

• Intergenerational equity in retirement income provision
• Managing longevity risk
• The merits of compulsory versus voluntary accumulation for retirement income
• New Zealand lifecycles and retirement savings
• Financial management of retirement savings (through accumulation and decumulation)
• The role of house ownership in supporting retirement income
• Fiscal implications of public provision of retirement income
• The role of KiwiSaver in New Zealand’s system of retirement income
• Insights from behavioural finance and behavioural economics affecting retirement provision
• Explaining the differences in various measures of household savings
• The association between financial literacy and financial planning for retirement

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Applications

Application form (Word 94.88 KB, Sep 2012)

The closing date for 2012 applications is 17 December 2012.

Send your application to your university’s scholarship office. Applications are forwarded to the Commission via the university scholarship office.

Successful applicants will be advised in writing by 31 January 2013.

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Selection criteria

Criteria for selection include:

1. Technical quality of the research proposal: study design and methods
2. Relevance to the Commission for Financial Literacy and Retirement Income’s goal of contributing to stable and effective government retirement income policy
3. Qualifications and previous experience of the applicant
4. Adequacy of budget details
5. Ability of supervisors to support the applicant

We expect that applicants studies will be in one of the fields of economics, education, money and finance, psychology, public policy or social science, although other disciplines will be considered.

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Previous recipients

The first recipient of a Commission scholarship in 2011 was Simon Copland who is studying the impact of consumer credit scoring systems on women and men.

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Regulations

The following regulations apply to the Commission’s scholarships:

• Up to one Masters (by thesis) and one PhD will be awarded in any one year.
• Research and study is to be undertaken at a University in New Zealand.
• Funding will be administered through the university in which the scholar is enrolled.
• The PhD scholarship is renewable annually subject to satisfactory progress and successful completion of academic requirements each year.
• Subject to the Commission’s approval, this scholarship may be held in conjunction with other awards.

Selection

The selection of successful candidates will be by a panel of four experts in retirement income issues, chaired by the Retirement Commissioner. Other experts may also be called on to assist. The selection panel’s decision will be final. If the panel considers that no applicant is suitable, then no scholarship will be awarded.

Progress reports

Each scholar's chief supervisor shall provide a report to the Retirement Commissioner every six months concerning the scholar's progress. If at any time the Retirement Commissioner considers a scholar is not making satisfactory progress the scholarship may be suspended or terminated.

Interim progress reports (3000 words or less) are required six monthly, and a final report is to be provided on completion of the scholarship. This will include an article suitable for publication. Scholars will also be required to deliver a seminar on their research findings to staff and invited associates of the Commission for Financial Literacy and Retirement Income.

Study and employment

Recipients shall be required to be studying full-time or part-time during the whole tenure of the scholarship. If full-time they may not hold a position receiving other emolument without approval from the Retirement Commissioner. Approval may be given for full-time scholars to undertake paid employment for up to an agreed number of hours in one calendar year. Other income arrangements for part-time scholars will be agreed at the time the scholarship is awarded.

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Enquiries

Enquiries can be directed to the Commission’s Research Manager at malcolm.menzies@cflri.org.nz.

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