retirement.org.nz

“As a major employer I'm very pleased to see the government taking a lead by
providing their staff with access to a retirement savings scheme,” says Ms
Crossan.

"Workplace saving is one of the most effective ways to prepare for retirement, as
savings are taken directly out of your pay before you have a chance to spend.
Schemes where the employer makes a contribution are definitely worth serious
consideration,” she says.

“For state sector employees entitled to join the scheme next year, this is very
good news,” says Ms Crossan. “In effect, the scheme is like a pay rise.”

“It’s easy to put long-term saving off. I encourage each person eligible for the
scheme to consider this option as soon as possible.”

“It is very encouraging to see such a positive approach to workplace saving.
Employers and unions working together like this for the benefit of employees
could also be a good model for the private sector,” says the Retirement
Commissioner.

“Most employees in the private sector do not have access to a scheme. I hope to see other employers taking the government’s lead and provide staff with access to retirement savings schemes,” says the Retirement Commissioner.

The Retirement Commission’s Sorted website www.sorted.org.nz has
information to help both employers and employees make saving decisions and
financial preparations for retirement.

Ends

For more information please contact:
Robyn Cormack
Marketing Communications Manager
Retirement Commission
Tel: 04-494 6243
Mobile: 025 242 7936
Email: robyn.cormack@sorted.org.nz

Attachment
Commissioner supports Govt’s workplace saving initiative