Sharechat Logo

Retirement Commissioner Diana Crossan puts hand out for more cash

Wednesday 21st March 2012

Text too small?

Retirement Commissioner Diana Crossan told the parliament’s social services committee she needs more money if her office is to increase the financial literacy of Maori and Pacific Islanders.

The Commission for Financial Literacy and Retirement Income, which operates the website, was urged to extend its coverage to lower socio-economic groups at the select committee hearing today. Since it was established in 1993, the commission has predominately focused on improving the financial literacy of middle income New Zealanders.

“We don’t have the facilities or the money that would be required to target some of these groups,” Crossan said.

“We are aware that what we are doing is for the general population – we are targeting some smaller areas but we don’t have a lot of the resources. We can’t work alone.” Crossan said the commission has no specific strategy to target Maori and Pacific Islanders.

She acknowledged a relationship with the Ministry of Pacific Island Affairs would be an important pathway to developing one.

“We have talked with iwi – we want them to get into a long-term strategy,” Crossan said. “What we have had to do is to alert them to the fact that the resources are there - we can help you but we can’t do it.”

About 35 percent of the New Zealand’s population uses the website, which allows people to organize and take control of their budget.

The commission would like to see this number of visitors increase by 10 to 15 percent following a recent upgrade of the site last year.


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Greater role for gas in electrification of transport, industry
Chorus sees growth in high value gigabit fibre plans
Arvida gets 87% uptake in $92 mln rights offer
NZ dollar weakens after US retail sales boost greenback
17th July 2019 Morning Report
Dairy product prices gain for first time in five auctions
MARKET CLOSE: NZ shares fall in listless trading; power companies gain
Gold Report 16th July 2019
NZ dollar rises after CPI meets expectations; US dollar weakens
Yili's Westland takeover gets OIO approval

IRG See IRG research reports