Our Chief Marketing Officer David Bishop and Chief Operating Officer Rachelle HardieNeill presented research from our 2023 Financial Resilience Index and the industry KiwiSaver data to provide a background to discussions about financial implications of an ageing population and retiring comfortably.
Attendees were particularly interested in Super, KiwiSaver and other preparations, how New Zealanders can have a dignified retirement and how that stacks up against estimated living costs and the added value that professional financial advice can provide.
"What came out loud and clear is that the retired community spans a wide age group, those in the room from the older generations said they have grown up in the knowledge that the state will support them, whereas the younger demographic said that they have benefitted from savings through the KiwiSaver scheme over the past decade and a half," says David.
With ageing populations, the real debate in the room was around the challenge facing future retirees and what needs to change in the wider retirement system to prepare for when there are fewer people putting into the state system than taking taking out.
We would like to thank the U3A for inviting us, and were pleased to hear that the overall action from the group was seek out help and professional financial advice, and also talk to their children and grandchildren about the importance of saving for their futures.