Two-year survey analysis gives unique insight

The CFFC has released a significant report that compiles and analyses responses to two years' of financial capability surveys.

The CFFC Financial Capability Barometer 2018-19 Report reflects input from more than 15,500 New Zealanders.

"It provides a remarkable insight into how people spend, borrow, save and plan, or not; their knowledge of KiwiSaver and what they might need for retirement, or how little they think about it," says Retirement Commissioner Jane Wrightson. "By segmenting by gender, age and ethnicity we can see more clearly the groups that need particular help."

The report was published on this website and sent to the CFFC's stakeholders, including government and research contacts, those working in the KiwiSaver industry, and members of the National Strategy for Financial Capability.

Research Lead and report author Dr Celestyna Galicki will host a webinar to go through the report on Monday, 24 August, 10am-11am.

"This report presents a lay of the land pre-COVID – another research project we completed during lockdown gave a stark insight into the lack of New Zealanders’ financial resilience, which reinforced some of the findings here," says Wrightson. "It was a warning that we need to do much more, and better, to help people improve their financial capability. I think organisations working in this space will achieve more by working together. We are in the process of reinvigorating the National Strategy to help co-ordinate our efforts."

The CFFC is now redesigning the Barometer and its research work programme.

"We welcome feedback as we do this so the CFFC can provide useful data and insights for stakeholders about New Zealanders and their financial behaviours and beliefs."