AMP endorses commitment to workplace savings
AMP’s appointment as one of the providers of the new state sector savings scheme is an exciting opportunity for the company, says AMP managing director Ross Kent.
Wednesday, February 18th 2004, 10:39AM
AMP’s appointment as one of the providers of the new state sector savings scheme is an exciting opportunity for the company to help the Government further its objective of providing simple, accessible and workable savings vehicles for New Zealanders, says AMP managing director Ross Kent.
“AMP has long been a fervent advocate of workplace-based savings schemes to help New Zealanders provide for their future needs. The Government’s commitment to this new scheme is encouraging.
“The Government has taken a clear leadership role in this area for its own employees. It’s putting its money where its mouth is and acting as a compelling role model for all employers in the country,” says Kent.
AMP has been researching the savings issue for a number of years, and was involved in the Saving New Zealand forum last year that brought together employer and employee representatives, unions, financial services providers and other interest groups to discuss the issue.
“What AMP has found is that people know government superannuation will not be enough to fund a healthy retirement. They know they have to put money aside to secure their future. But they don’t necessarily know how much or the best way to save to have the future they want,” Kent says.
“For many people, a workplace-based savings scheme is the most practical way to get the savings ball rolling.”
Kent says the next step for AMP is to work alongside the Government, and the three other providers, to ensure the scheme is a success.
“The very real benefits of a subsidised scheme such as this have to be clearly spelt out. It has to be easy for people to join, and to monitor their savings growing.
“Through the scheme, state sector employees will have a real opportunity to ensure their future financial wellbeing,” Kent says.
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