Retirement Commissioner wants more money

Posted: March 21, 2012 at 2:02 am


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Retirement Commissioner Diana Crossan has told MPs she needs more money if her office is to increase the financial literacy of Maori and Pacific Islanders.

The Commission for Financial Literacy and Retirement Income, which operates the Sorted.org website, was urged to extend its coverage to lower socio-economic groups at Wednesday's hearing of parliament's social services committee.

Since it was established in 1993, the commission has predominately focused on improving the financial literacy of middle income New Zealanders.

"We don't have the facilities or the money that would be required to target some of these groups," Ms Crossan said.

"We are aware that what we are doing is for the general population - we are targeting some smaller areas but we don't have a lot of the resources. We can't work alone."

She said the commission has no specific strategy to target Maori and Pacific Islanders. She acknowledged a relationship with the Ministry of Pacific Island Affairs would be an important pathway to developing one.

"We have talked with iwi - we want them to get into a long-term strategy," Ms Crossan said.

"What we have had to do is to alert them to the fact that the resources are there - we can help you but we can't do it."

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Retirement Commissioner wants more money

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March 21st, 2012 at 2:02 am

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