Retirement Commission's aim to close retirement wealth gender gap

Author
Newstalk ZB staff,
Publish Date
Mon, 23 Sep 2019, 7:15PM
(Photo / Supplied)

Retirement Commission's aim to close retirement wealth gender gap

Author
Newstalk ZB staff,
Publish Date
Mon, 23 Sep 2019, 7:15PM

Interim retirement commissioner Peter Cordtz joins Heather du Plessis-Allan to talk about a proposal from the Retirement Commission.

They have proposed for tax payers to pay into the KiwiSaver accounts of stay-at-home Mums.

Called a 'care credit' it aims to close the gender pension gap as women typically enter retirement worse off financially than men.

Cordtz says KiwiSaver's an employer-based scheme, so anyone who has to take time off work will see their nest egg fall behind.

He says there are a range of reasons women end up with less money in the bank at retirement age.

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