Commission for Financial Capability

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Commission for Financial Capability
Agency overview
Formed1995
JurisdictionNew Zealand Government
HeadquartersLevel 3, 108 Quay Street, Auckland, New Zealand
Employees25+
Annual budget$5.86 million
Agency executive
  • Diane Maxwell, Retirement Commissioner
Websitehttps://www.cffc.org.nz/

The Commission for Financial Capability (CFFC), is a Crown entity under the New Zealand Crown Entities Act 2004.[1] The Commission works to improve the financial capability of all New Zealanders throughout their lives through education, information and promotion.

Overview[edit]

The Commission for Financial Capability operates under the NZ Superannuation and Retirement Income Act,[2] which provides the statutory framework for its operations. It also has certain functions under the Retirement Villages Act 2003.[2] The Commission is funded by central government and has an annual budget of around $NZ5.9m.[3]

The Commission's activities include:

  • Review of Retirement Income Policy[4] - completed every three years to assess effectiveness, identify future issues, provide policy stability and inform policy development
  • Sorted - providing free independent and impartial information and tools, to help New Zealanders manage their everyday money matters
  • Money Week[5] - New Zealand's annual, nationwide financial literacy week is held in September and aims to get New Zealanders thinking about and taking action with their money matters
  • Financial Knowledge and Behaviour Survey[6] - a four yearly survey of adult New Zealanders
  • Financial Behaviour Index[6] - a six monthly snapshot of New Zealanders’ financial behaviour.

Retirement Commissioner[edit]

The official logo of CFFC (The Commission for Financial Capability)

The Commission for Financial Capability is the office of the Retirement Commissioner, Diane Maxwell.[7] She was appointed by the Minister of Commerce for a three-year term from 1 July 2013 and again in June 2016 for a further three-year term. Diane was Head of Stakeholder Management for the Financial Markets Authority,[8] and before that, the Head of Brand and Corporate Affairs at the Bank of New Zealand.

Previous Retirement Commissioners are:

See also[edit]

References[edit]

  1. ^ "Crown Entities Act 2004 No 115 (as at 08 August 2013), Public Act Contents – New Zealand Legislation". Legislation.govt.nz. 2013-08-08. Retrieved 2013-10-20.
  2. ^ a b "New Zealand Superannuation and Retirement Income Act 2001 No 84 (as at 02 September 2013), Public Act Contents – New Zealand Legislation". Legislation.govt.nz. 2013-09-02. Retrieved 2013-10-20.
  3. ^ "Statement of Intent : 2013-2016" (PDF). Cflri.org. Retrieved 2013-10-20.
  4. ^ "2013 Review of New Zealand Retirement Income Policy". CFLRI. Retrieved 2013-10-20.
  5. ^ "Money Week". Moneyweek.org.nz. 2013-09-07. Retrieved 2013-10-20.
  6. ^ a b "Financial literacy research projects". Cflri.org.nz. 2013-05-04. Retrieved 2013-10-20.
  7. ^ "Diane Maxwell - Retirement Commissioner". CFLRI. Retrieved 2013-10-20.
  8. ^ "Home | Financial Markets Authority". Fma.govt.nz. Retrieved 2013-10-20.

External links[edit]

Coordinates: 41°16′51.612″S 174°46′32.094″E / 41.28100333°S 174.77558167°E / -41.28100333; 174.77558167