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Retirement Commissioner gets more money

The Retirement Commission has had some of its funding restored in this year’s budget.

Tuesday, May 20th 2003, 10:24PM
The Retirement Commission has had some of its funding restored in this year’s budget.

Two years ago the commission had its budget cut, which impacted on the amount of promotional work it could undertake.

However, in last week’s budget the commission was given an extra $1 million in additional funding for its education process.

Retirement Commissioner Diana Crossan said she was very pleased to receive the additional ongoing funding, which will take the commission’s budget for its education programmes up to $2.5 million this year.

“I think our highly successful Sorted public education programme and its shift in focus to sound financial management throughout life, has been a key factor in this decision.”

“The additional funding will allow us to increase the level of promotional activities as well as develop programmes targeted at specific groups,” Crossan says.

She says the commission wants to place a strong emphasis on the development of programmes for young people, particularly school students this year. “I’ll be working closely with educational groups to see how we can ensure our young people get the opportunity to develop their financial skills.”

“We will also further develop the Sorted website with new information, games and calculators” she says.

The commission recently launched a section of Sorted specifically for tertiary students aimed at helping them get to grips with budgeting and student loans. It will also shortly be launching a section to help people maintain and use their savings and investments in retirement.

Crossan says she is also keen to continue to work with the financial services industry and employers to encourage them to further contribute to public education.

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