The Retirement Commission (more formally “the Office of the Retirement Commissioner”) is a Crown Entity under the New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

 Crown Entities Act 2004.

The stated purpose of the Retirement Commission is to help New Zealanders prepare financially for retirement through education, information and promotion.

History

The first Retirement Commissioner was Colin Blair, appointed in 1995. He was succeeded by Diana Crossan in 2002.

Operations

The Commission now operates under the NZ Superannuation and Retirement Income Act which provides the statutory framework for its operations. It also has certain functions under the Retirement Villages Act 2003.

The Commission is funded by central government. In the 2008 budget it received $NZ5.6m in funding.

Its more public roles include:

• the operation of the “Sorted” website which has independent information and tools to help New Zealanders manage their personal finances
• conducting three-yearly reviews of the government’s retirement income policies
• helping to implement a framework so that personal financial education can be taught as part of the New Zealand school curriculum.

External links

• Commission Website http://www.retirement.org.nz/
• Sorted Website http://www.sorted.org.nz/