Pension commentaries

Thought leadership from key personnel at the RPRC.

2018 | 2017 | 2016 | 2015 | 2014 | 2012 | 2011 | 2009 | 2008 | 2007

2018


  • Divestment and Decumulation – Planning for Post-Retirement

    In the international pensions world, The New Zealand experience clearly shows that with no state action whatever, the annuities market just disappears. It is not an easy problem to remedy and as Ralph Stewart’s experience with the NZ Income Guarantee has shown it is a costly and time consuming path for individual private providers to develop profitable products. Susan St John discusses three important ways that the state can act as a catalyst for retirement income policies.

  • An analysis of the changing nature of work in New Zealand and its implications for older female workers

    This paper draws together research and discussions on the issues affecting the future of work for women, particularly older women, 50+, in New Zealand. Time out from full time (FT) employment, restricted training and development opportunities, the gender pay, age and sex discrimination, all significantly impact on their working life and future career prospects, including financial resources. The constrained ability to provide adequate resources for their future may affect women’s choice of when they can stop working.

2017


  • Responsible investment: the new standard in KiwiSaver?

    Two years ago, RPRC Associate Dr Matheson Russell wrote in PensionCommentary 2015-3: “The ‘default’ investment options offered by KiwiSaver schemes do not include ‘socially responsible investments’.” This PensionCommentary revisits Russell’s arguments for socially responsible options, and reports on the remarkable transformation of KiwiSaver schemes since then.

2016


  • KiwiSaver: A world-class savings plan

    The three yearly review of retirement incomes policies is underway. Each month starting May 2016 a different aspect is being examined by the Commission for Financial Capability. This commentary draws on an article written for the AARP journal in early 2016: How to save like a Kiwi Spring 2016.

  • KiwiSpend: How to spend like a kiwi

    The three yearly review of retirement incomes policies is underway. Each month starting May 2016 a different aspect is being examined by the Commission for Financial capability. This commentary draws on RPRC thinking on decumulation, see, for example, St John, Dale & Ashton (2012) A new approach to funding the costs of New Zealand’s ageing population, New Zealand Population Review, Vol 38, 2012.

2015


  • Default socially responsible investment for KiwiSaver – an alternative view (2015–4)

    In PensionCommentary 2015-3, Matheson Russell argues that the default options of all KiwiSaver schemes should be required to use ‘socially responsible investments’ in their investment strategy. This PensionCommentary suggests that ‘socially responsible investing’ is not a robust concept. Further, all KiwiSaver schemes should be allowed to set their own default investment strategy.

  • Making responsible investment the new standard in KiwiSaver (2015-3),

    KiwiSaver will have an increasing impact on New Zealanders’ financial wealth. The ‘default’ investment options offered by KiwiSaver schemes do not include ‘socially responsible investments’. Just as the government has regulated the investment strategy of the default option for the nine default schemes, perhaps the default options of all KiwiSaver schemes should be required to use ‘socially responsible investments’ in their investment strategy.

  • The coming debate on New Zealand Superannuation – the review process (2015-2)

    New Zealand needs to debate all aspects of the design of New Zealand Superannuation but the government doesn’t want to talk about it. Realistically, nothing can happen politically until at least 2017 and possibly even as late as 2020. In the meantime, New Zealand should start gathering the data that will be needed for the debate, once that can start. We do not have anything like the information we need for a national, principles-based, research-led debate.

  • Re-designing New Zealand Superannuation (2015-1)

    The net cost of New Zealand Superannuation will increase from 4.1% to 6.7% of GDP by 2060. Many say that's unaffordable but the expected cost of NZS is a second-order issue. The first priority is to decide on the shape of NZS for 2060, based on what we might want NZS to achieve in 2060. If the ‘ideal’ scheme is too expensive, only then does cost become an issue. New Zealand has never had the suggested principles-based, research-led debate on all the key design elements of NZS.

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2014


  • On recent proposals from Labour (2014-1)

    This commentary examines the Labour Party’s just-announced KiwiSaver policies and notes with concern that political parties are either ignoring superannuation altogether, or coming up with policies that need consultation and analysis before announcement.

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2012


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2011


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2009


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2008


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2007


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