retirement.org.nz

Funding allows continuation and further development of the Retirement Commission’s Workplace Financial Education Programme, designed to inform KiwiSaver decision-making. The Programme will include new information on:

• contribution continuation/holidays
• fund portability
• and investment education for new and existing members.

The Retirement Commission will provide workplaces with a wide range of financial education resources via Sorted, including:

• Direct employee access to sorted.org.nz
•  rochures available on a series of financial topics
• Seminar modules and supporting materials for use in the workplace

Similar resources will be offered to the wider community.
In addition to KiwiSaver decision-making resources, topics covered will include:

• Goal setting
• Budgeting/cashflow
• Managing debt
• Saving
• Mortgages
• Investing
• Trusts
• Fees
• Asset protection
• Managing money in retirement.

Background

In the last three years of workplace financial education:

• Nearly 800,000 people have used Sorted KiwiSaver decision-making resources:
  • Using content and tools on sorted.org.nz (600,000 approx.)
  • Ordering KS decision guide brochures (130,000 approx.)
  • Downloading KS decision making seminar modules (3500 downloads)
• 440,000 viewers (average) watched each of the 10 episodes of ‘Your Money Sorted’ on TV1 during July – Sept 2007.

• Subsequent use of budgeting, mortgage and other areas of Sorted content all experienced significant increase in use.

• 77% of Kiwis recalled seeing or hearing material from the Sorted KiwiSaver decision-making campaign (Colmar Brunton KS evaluation, Jan 2008).

• 30% of all employers have either used Sorted or referred staff to Sorted resources – however this figure is 62% for all businesses with 20 or more staff (Colmar Brunton KS evaluation, Jan 2008).

• 28% of 18-65 year olds surveyed had used Sorted to help them make a decision about KiwiSaver (Colmar Brunton KS evaluation, Jan 2008).

Attachment
Budget 08 funding