MEDIA RELEASE
6 June 2003
ISSUES PAPER
ON SAVINGS RELEASED
The first draft of an issues paper on savings was released today
in the lead up to a Savings Forum to be held in late July.
The paper has been prepared by economist Peter Harris to provide
background material for the Forum, which is being co-ordinated by the Investment Savings
and Insurance Association.
"The paper identifies the key features of New Zealand’s
savings environment and discusses the issues around savings from a variety of perspectives
- including employers, unions, government and those on low incomes. It also raises the
core elements that need to be covered in a comprehensive savings policy framework,"
says ISI chairman Simon Swanson.
"We’re now looking for comment and input to the paper.
It will be revised and recirculated, possibly more than once, before the Forum on 23
July."
The Saving New Zealand project is based on a partnership between
politicians, employers, unions, the financial services industry and the community.
The objective is the development of a savings framework for New
Zealand. Such a framework would give people certainty around savings policy and
regulation, and a clear idea of what they need to save to provide for themselves in
addition to what the state provides.
"The ISI has initiated this project to get a
constructive discussion going on this important issue. No-one has all the answers, but by
working together we should reach an agreement we can all feel comfortable with. We need to
get away from the kind of adversarial politics that have dominated debate on savings, and
superannuation in particular, for so long," said Mr Swanson.
Ends
Simon Swanson, Chairman, ISI
Ross Kent, Deputy Chairman ISI
Vance Arkinstall, Chief Executive, ISI
Click here for
Saving New Zealand Update
Click
here for Saving New Zealand Issues Paper
