The national strategy, which will be led by the Retirement Commissioner with the assistance of an Advisory Committee, will identify what must be done to lift New Zealanders’ financial literacy. The strategy is expected to be complete by December 2007.
"International research suggests that financial literacy is linked to wealth. So this strategy is essential if we are to lift New Zealanders’ standard of living and wealth," said Retirement Commissioner Diana Crossan.
The strategy, led by the Retirement Commission in consultation with the public, private and voluntary sectors, sets the direction for improving the financial literacy levels of New Zealanders.
Led by the Commission, the development of the Strategy was first announced at the inaugural Financial Literacy Symposium in Wellington in December 2006. Less than a year later, with wide support and involvement from public, private and voluntary sectors, a draft National Strategy was launched. A consultation process earlier this year resulted in 34 positive submissions from organisations across the country.