Kaupapahere pūnaha moniwhiwhi ahungarua Retirement income system policy

Kaupapahere me te rangahau | Policy & research

What is the Retirement Income System?


The Retirement Commissioner is required by law to develop and promote methods of improving the effectiveness of retirement income policies in New Zealand to monitor their effects.

The Retirement Income System comprises of NZ Superannuation (‘Super’), KiwiSaver, and private savings. These may be held as cash, shares, property, or other iwi models of financial planning and savings.

Purpose Statement


On 21 October 2020 the Retirement Commissioner released a statement defining the purpose of New Zealand’s retirement income system.

The purpose statement was produced with assistance from the Retirement Commissioner’s Expert Advisory Group [EAG]. The EAG was formed by the Commissioner to help her test and debate issues. It consists of iwi leadership, academics, and policy specialists with expertise in a range of areas.

The purpose statement will be used by Te Ara Ahunga Ora Retirement Commission to test retirement income policy proposals and could be useful to other government and non-government entities.

“A stable retirement income framework enables trust and confidence that older New Zealand residents can live with dignity and mana, participate in and contribute to society, and enjoy a high level of belonging and connection to their whānau, community and country.

To help current and future retirees to achieve this, a sustainable retirement income framework’s purpose is twofold:

  1. To provide NZ Superannuation to ensure an adequate standard of living for New Zealanders of eligible age. NZ Super is the Government’s primary contribution to financial security for the remainder of a person’s life.
  2. To actively support New Zealanders to build and manage independent savings that contribute to their ability to maintain their own relative standard of living.

The retirement income system sits within the broader government provision of infrastructure also needed to enable older New Zealanders to live well, such as health care, housing, and transport.”

Older Persons Forum


Te Ara Ahunga Ora Retirement Commission is holding an Older Persons Forum on the 24th & 25th August 2021, in Wellington. Find out more about the Older Persons Forum.