17 Dec 2012

Impending retirees need more information

7:06 am on 17 December 2012

The Retirement Commission is looking at ways to plug an information gap faced by impending retirees looking to make their nest-eggs last as they live longer.

Outgoing Commissioner Diana Crossan said good information on building up savings is available to younger people through its website, sorted.org.nz.

The same information has not been available for people who are in the pay-out phase of their pension.

Ms Crossan said the commission will be focussing on that next year.

"We've done a major piece of work this year to find out how the audience get their information, how they'd want it, how do people around 55 to 65, 70 just phasing out of their jobs, what kind of information do they need to manage that," she said.

Ms Crossan said the office will also be seeking to help people who are already retired manage their money well, along with those in the older age group.

She said new information is being generated on the costs of retirement and the commission is keen to find ways of seeing it get to a wider audience.

Ms Crossan said the commission wants to find the best way to do that whether it's through another website, working through existing agencies such as lawyers and accountants or through community groups that work with retired people.

Stepping down this month after 10 years as Retirement Commissioner Diana Crossan is holding firm to her conviction that National Super will be affordable into the future without major changes to entitlements.