Te Ara Ahunga Ora Retirement Commission Explained

Agency Name:	Te Ara Ahunga Ora Retirement Commission
Formed:	1995
Jurisdiction:	New Zealand Government
Headquarters:	Level 15, 19 Victoria St West Auckland, New Zealand
Employees:	30+
Budget:	$8.6 million
Minister1 Name:	Hon. Andrew Bayly
Minister1 Pfo:	Commerce & Consumer Affairs
Chief1 Name:	Jane Wrightson
Chief1 Position:	Retirement Commissioner
Website:	https://retirement.govt.nz/

Te Ara Ahunga Ora Retirement Commission (formerly Commission for Financial Capability), is a Crown entity under the New Zealand Crown Entities Act 2004.^[1] The Commission provides financial education and information to residents of New Zealand, advises government on retirement income policy, and monitors the effectiveness of the Retirement Villages Act 2003.

Overview

Te Ara Ahunga Ora Retirement Commission 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 New Zealand's central government and has an annual budget of around $NZ8.6m.^[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 financial impartial information and tools^[5]
• Money Week^[6] - New Zealand's annual, nationwide financial capability week is held in August.
• Research on New Zealanders' financial capability and retirement income ^[7]
• Monitoring the retirement village regulatory framework^[8]

Retirement Commissioner

Te Ara Ahunga Ora Retirement Commission is the office of the Retirement Commissioner, Jane Wrightson.^[9] She was appointed by the Minister of Commerce for a three-year term from February 2020. Wrightson was formerly Chief Executive of NZ on Air.

Previous Retirement Commissioners are:

• Diane Maxwell (2013-2019)
• Diana Crossan (2002-2013)
• Colin Blair (1995-2001)

See also

• New Zealand Superannuation Fund

External links

• Official website
• Sorted website
• Money Week website
• The Exchange website
• Smart Investor

Notes and References

1. Web site: Crown Entities Act 2004 No 115 (as at 08 August 2013), Public Act Contents – New Zealand Legislation . Legislation.govt.nz . 2013-08-08 . 2013-10-20.
2. Web site: 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 . 2013-10-20.
3. Web site: Vote Business, Science and Innovation 2020-21. 2021-01-20. treasury.govt.nz. NZ Treasury.
4. Web site: Review of New Zealand Retirement Income Policy. 2021-01-20. cffc.govt.nz. Commission for Financial Capability.
5. Web site: Sorted, by the Commission for Financial Capability. 2021-01-20. cffc.govt.nz.
6. Web site: Money Week. Moneyweek.org.nz . 2013-09-07 . 2013-10-20.
7. Web site: Research and reports. 2021-01-20. cffc.govt.nz. Commission for Financial Capability.
8. Web site: Retirement Villages Act, Regulations and Codes » CFFC. 2021-01-19. cffc.govt.nz.
9. Web site: Jane Wrightson - Retirement Commissioner. 2021-01-20. cffc.govt.nz. Commission for Financial Capability.