Harman Patil (Editor)

Commission for Financial Literacy and Retirement Income

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Formed
  
1995

Annual budget
  
$5.86 million

Jurisdiction
  
New Zealand Government

Commission for Financial Literacy and Retirement Income

Headquarters
  
Level 12, 142 Lambton Quay, Wellington, New Zealand

Agency executive
  
Diane Maxwell, Retirement Commissioner

Website
  
http://www.cffc.org.nz/

The Commission for Financial Capability (formerly the Commission for Financial Literacy and Retirement Income and the Retirement Commission), is a Crown Entity under the New Zealand Crown Entities Act 2004. The Commission works to improve the financial capability of all New Zealanders throughout their lives through education, information and promotion.

Contents

Overview

The Commission for Financial Capability operates under the NZ Superannuation and Retirement Income Act, which provides the statutory framework for its operations. It also has certain functions under the Retirement Villages Act 2003. The Commission is funded by central government and has an annual budget of around $NZ5.9m.

The Commission's activities include:

  • Review of Retirement Income Policy - completed every three years to assess effectiveness, identify future issues, provide policy stability and inform policy development
  • Sorted - providing free independent and impartial information and tools, to help New Zealanders manage their everyday money matters
  • Money Week - New Zealand's annual, nationwide financial literacy week is held in September and aims to get New Zealanders thinking about and taking action with their money matters
  • Financial Knowledge and Behaviour Survey - a four yearly survey of adult New Zealanders
  • Financial Behaviour Index - a six monthly snapshot of New Zealanders’ financial behaviour.

    • Retirement Commissioner

    The Commission for Financial Capability is the office of the Retirement Commissioner. Diane Maxwell is the Retirement Commissioner. She was appointed by the Minister of Commerce for a three-year term from 1 July 2013. Diane was Head of Stakeholder Management for the Financial Markets Authority, and before that, the Head of Brand and Corporate Affairs at the BNZ.

    Previous Retirement Commissioners are:·

  • Diana Crossan (2002-2013)·
  • Colin Blair (1995-2001)

    • References

    Commission for Financial Literacy and Retirement Income Wikipedia
    (Text) CC BY-SA