A review last year shows people don't have a clear view of the retirement savings system - whether it was the pension or the role of retirement savings. Photo: Getty ImagesThe Retirement Commissioner is offering a definition of the country's retirement system, after discovering people did not know what superannuation was for. The commissioner, Jane Wrightson, said a review last year showed people did not have a clear view of the retirement savings system - whether it was the pension or the role of retirement savings. Wrightson said the definition would provide a much-needed base to refer to when retirement issues are debated in the future. "This is particularly true for many Māori, whose disparity in living standards throughout their lives affect their quality of life as they age."

Source: Otago Daily Times October 21, 2020 02:15 UTC