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Whanau, hapÅ«, iwi and kaumÄtua from around Aotearoa are being asked to provide their opinions on ‘what retirement looks like for MÄori’, as part of the 2022
Review of Retirement Income Policies: https://retirement.govt.nz/policy-and-research/2022-review-of-retirement-income-policies/
KaumÄtua were being invited to take part in hui in Christchurch, Wellington and Waitangi but given the risks COVID-19 poses these will not go ahead and an
online survey is being used to gather insights.
Te Ara Ahunga Ora Retirement Commission Kaihautá¿¡, Dr Kathie Irwin (NgÄti Porou, NgÄti Kahungunu, Rakaipaaka) is leading this research and is calling on MÄori to share their views.
“The MÄori word for retirement is whakatÄ, which when translated means ‘relaxing, having a break’. However, what we do know about being a kaumÄtua, pakeketanga, growing older in Te Ao MÄori, is almost the opposite of this sentiment,” says Dr Irwin.
“As elders, kaumÄtua are regularly called upon to be present at MÄori events and gatherings. They are considered kaitiaki of whakapapa, tribal history and custom, and their presence adds mana. Many are busy supporting whÄnau, the wider community, hapÅ« and iwi or they are still working – and are by no means ‘taking a break’ in their retirement.
“What extra costs do they end up taking on assuming this role? How are they managing on NZ Superannuation, for instance? We want MÄori from all stages of life to be part of this kÅrero and encourage them to take part in the research.”
The survey findings, along with the wider research being undertaken to support the 2022 Review of Retirement Income Policies (RRIP), will feed into the Retirement Commissioner’s final report to Government. This report will provide analysis on the effect of retirement income policies for New Zealanders and identify emerging issues for future policy consideration.
Retirement Commissioner Jane Wrightson says the Government has asked that particular focus is given to how current policies impact on the retirement savings outcomes and experiences of MÄori as Treaty partners, of Pacific Peoples, and women. Separate projects are underway for the latter groups.
“In general, these three groups tend to arrive at pension age less economically well-off and it’s important that the reasons why are clearly understood from a systems perspective,” she says.
“The RRIP enables us to surface valuable insights into what retirement looks like for New Zealanders, including MÄori, and what their needs are for the future.”
Te Ara Ahunga Ora has just released a paper focusing on the financial wellbeing of MÄori, which has taken a deeper dive into the findings of the
New Zealand Financial Capability Survey: https://retirement.govt.nz/policy-and-research/2022-review-of-retirement-income-policies/
This research has analysed the responses of MÄori aged between 18 and 85, who scored themselves on various components of financial capability, as well as their preparedness for retirement. https://cffc-assets-prod.s3.ap-southeast-2.amazonaws.com/public/Uploads/Research-2020%2B/TAAO-_NZ-financial-capability_maori.pdf
The paper highlights the impact of ethnic pay inequity combined with lower financial inclusion, money management and spending restraint, meaning MÄori are missing opportunities to build on assets and savings. WÄhine (consistent with women in general) are even more disadvantaged in their ability to add their own savings to supplement NZ Superannuation in retirement.
Those in the 55+ age group for both tÄne and wÄhine scored themselves the lowest in their preparedness for retirement. The reasons for low preparedness for retirement scores for MÄori are yet to be explored but this age group needs special attention when discussing retirement planning.
The study suggests further work is required to better understand MÄori perspectives about their financial capability which will be considered as part of the ground-breaking RRIP work on ‘what does retirement look like for MÄori’.
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