Commission for Financial Literacy and Retirement Income
| Agency overview | |
|---|---|
| Formed | 1995 |
| Jurisdiction | New Zealand Government |
| Headquarters | Level 12, 142 Lambton Quay, Wellington, New Zealand |
| Annual budget | $5.86 million |
| Agency executive |
|
| Website | http://www.cffc.org.nz/ |
The Commission for Financial Capability (formerly the Commission for Financial Literacy and Retirement Income and the Retirement Commission), is a Crown Entity under the New Zealand Crown Entities Act 2004.[1] The Commission works to improve the financial capability of all New Zealanders throughout their lives through education, information and promotion.
Overview
The Commission for Financial Capability operates under the NZ Superannuation and Retirement Income Act,[2] which provides the statutory framework for its operations. It also has certain functions under the Retirement Villages Act 2003.[2] The Commission is funded by central government and has an annual budget of around $NZ5.9m.[3]
The Commission's activities include:
- Review of Retirement Income Policy[4] - completed every three years to assess effectiveness, identify future issues, provide policy stability and inform policy development
- Sorted - providing free independent and impartial information and tools, to help New Zealanders manage their everyday money matters
- Money Week[5] - New Zealand's annual, nationwide financial literacy week is held in September and aims to get New Zealanders thinking about and taking action with their money matters
- Financial Knowledge and Behaviour Survey[6] - a four yearly survey of adult New Zealanders
- Financial Behaviour Index[6] - a six monthly snapshot of New Zealanders’ financial behaviour.
Retirement Commissioner
The Commission for Financial Capability is the office of the Retirement Commissioner. Diane Maxwell[7] is the Retirement Commissioner. She was appointed by the Minister of Commerce for a three-year term from 1 July 2013. Diane was Head of Stakeholder Management for the Financial Markets Authority,[8] and before that, the Head of Brand and Corporate Affairs at the BNZ.
Previous Retirement Commissioners are:·
- Diana Crossan (2002-2013)·
- Colin Blair (1995-2001)
See also
References
- ↑ "Crown Entities Act 2004 No 115 (as at 08 August 2013), Public Act Contents – New Zealand Legislation". Legislation.govt.nz. 2013-08-08. Retrieved 2013-10-20.
- 1 2 "New Zealand Superannuation and Retirement Income Act 2001 No 84 (as at 02 September 2013), Public Act Contents – New Zealand Legislation". Legislation.govt.nz. 2013-09-02. Retrieved 2013-10-20.
- ↑ "Statement of Intent : 2013-2016" (PDF). Cflri.org. Retrieved 2013-10-20.
- ↑ "2013 Review of New Zealand Retirement Income Policy". CFLRI. Retrieved 2013-10-20.
- ↑ "Money Week". Moneyweek.org.nz. 2013-09-07. Retrieved 2013-10-20.
- 1 2 "Financial literacy research projects". Cflri.org.nz. 2013-05-04. Retrieved 2013-10-20.
- ↑ "Diane Maxwell - Retirement Commissioner". CFLRI. Retrieved 2013-10-20.
- ↑ "Home | Financial Markets Authority". Fma.govt.nz. Retrieved 2013-10-20.