Policy Position papers

In this series we explore eight objectives of retirement income policy and set out our views

The 2013 review of retirement income policies considered the balance between eight separate objectives which overlap and sometimes even compete with each other. These position papers are intended to promote debate and understanding so a consensus can develop on what constitutes sustainable policy.

• Income Support: Alleviate Old Age Poverty and Hardship

  346KB pdf

• Wellbeing in Retirement: Promote Positive and Active Ageing

  324KB pdf

• Encouraging Personal Responsibility, Individual Choice and Control: Voluntary Saving for Retirement

  316KB pdf

• Longevity Risk Pooling: Share Protection Against the Risk of Outliving Savings

  330KB pdf

• The Citizenship Dividend: Build and Maintain Social Cohesion and National Identity

  313KB pdf

• Lifetime Consumption Smoothing: Maintain Accustomed Living Standards

  322KB pdf

• Intergenerational Equity (Cohort Self-Funding): Ensure Equity or Fairness Between Generations

  330KB pdf

• Fiscal Restraint and Investment: Promote Economic Growth and Efficiency

  488KB pdf

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New Zealand has chosen a unique mix of these objectives for its retirement income framework. This mix may change over time, although overall policy needs to remain sustainable without frequent or unexpected changes. Future costs will have to be manageable and it is important to have a broad public consensus about policy directions. 

Key ideas to ensure the sustainability of New Zealand’s retirement income policies:

• The Sustainability of New Zealand’s Retirement Income Framework

  346KB pdf