retirement.org.nz

“For many people, this is an ideal time to review your goals and budgets. If saving is one of your goals, the Quick KiwiSaver Calculator on the Sorted website will help you work out what KiwiSaver might be worth to you in the future.

Source: KiwiSaver Evaluation report: July 2007‐December 2008. Evaluation Services, Inland Revenue.

Source: KiwiSaver Evaluation report: July 2007‐December 2008. Evaluation Services, Inland Revenue.

Retirement Commissioner Diana Crossan says all calculators and booklets have been updated to explain the changes and to help people work out what it means for them.

“From 1 April you can contribute 2% of your pay, and your employer’s compulsory contribution will increase from one to two per cent. The updated KiwiSaver calculators will help you work out how a change in your contribution will affect your retirement savings.”

More than 1 million people have used the free independent resources on Sorted to make decisions about KiwiSaver.

Sorted.org.nz offers a range of free resources to help employers help their staff get financially sorted. Retirement Commissioner Diana Crossan says these have all been updated to reflect the KiwiSaver changes that come into effect in a few weeks.

“The new information is on the site early to give employers time to assess what the changes mean for them and their staff,” said Diana Crossan.

“The financial decisions New Zealanders make every day of their working lives impacts on their financial position in retirement. While planning for retirement is not just about workplace savings, it can be a very important part.

“KiwiSaver will provide a trigger for many people to take a close look at their finances. It’s critical that they make decisions on workplace saving within the context of their wider financial situation,” said Ms Crossan.

The Retirement Commissioner or Retirement Commission staff, regularly address the SuperFunds summit.

2009

“New Zealanders are worried – should they be?”
Opening address and presentation.
Diana Crossan, Retirement Commissioner

New Zealanders now have a brand new online tool to help get their money sorted before deciding on KiwiSaver.

Sort Me is a quick and easy online financial check up on www.sorted.org.nz developed by the Retirement Commission to help all New Zealanders take the pulse of their personal finances.

“Before people can make informed KiwiSaver decisions they need to know about their own financial situation and that’s where Sort Me helps out,” Retirement Commissioner Diana Crossan said today.

The Commissioner, Diana Crossan, says Budget announcements of compulsory employer contributions and tax credits of $20 a week mean people need to spend time working out the status of their personal finances before they make decisions about joining KiwiSaver.

"Budget announcements may make KiwiSaver more attractive,” says Ms Crossan. "Experts will say it is an easier decision, but people will need to make well informed decisions themselves, based on their particular financial situation.

The Sorted Quick KiwiSaver Calculator at www.sorted.org.nz has been developed by the Retirement Commission to help New Zealanders calculate whether the workplace savings scheme suits their personal financial situation.
Affordability is a key issue workers will have to consider when deciding whether or not to opt in, stay in or opt out – can they afford to contribute 4% of their pay?

The Sorted Quick KiwiSaver Calculator will help New Zealanders answer this question simply by entering their gross income, frequency of pay and age into the calculator.