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Commission looking to review super

The Office of the Retirement Commission is gearing up for its first review of retirement policy.

Wednesday, February 8th 2006, 9:38AM

by Rob Hosking

Chief executive Diana Crossan says the office will spend the next few months talking to people over what issues they think the commission should cover in its first review.

Changes to the law in 2005 abolished the old Periodic Report Group, which reported every six years on superannuation policy.

The last of those was held in 2003. Under the new law the commission has to review policy every three years, and the first is due next year.

Crossan says she has “a germ of an idea” that the commission could develop a long-term approach to those reviews, planning them in advance.

This is, she emphasises, very much a preliminary idea, but she wants to hear from as many people as possible over the coming months.

“One of the problems of regular reviews is you are reviewing a system which is now pretty stable. You can seem to be not coming up with anything important.

“Some people rubbished the 2003 PRG report for that, but if you look at what we covered here is some important material there.”

Crossan is putting out feelers to as wide a selection as possible to get an idea of what should be looked at.

“What I would like to do is involve as many people over the next six months and get an idea of what should be reviewed, what should be done now and what could be done in three years’ time.”

Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.

« Spotlight on salary sacrifice for tax purposesNew Zealanders too relaxed about retirement »

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