September 26, 2019
Māori gap at retirement grist for review
The Interim Retirement Commissioner is looking at the idea of a care credit paid into women’s KiwiSaver accounts to recognise the time they take out of paid work to look after family.
Peter Cordtz says the idea contained in a research paper prepared by the University of Auckland’s Public Policy Institute as part of there commission's three-yearly Review of Retirement Income Policies.
It's one of the factors for women arriving at retirement age 18 percent worse off than their male counterparts.
He's keen the review captures the experience of Māori and Pacific women.
"That care piece is not just around kids. Particularly for Māori and Pacific communities, those broader obligations to extended whānau around caring for others and community service means our women are less likely to arrive at retirement with the sort of nest egg it takes to live in retirement comfortably with choices," Mr Cordtz says.
The review needs to be completed by December.
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