Retirement commissioner does just that - retires

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Retirement Commissioner Diana Crossan is stepping down from the role after 10 years service.

Wednesday, August 8th 2012, 10:18AM 2 Comments

Crossan says she has informed the government that she won't be renewing her term when it ends in January next year.

She says the decision has nothing to do with National's intransigence over retirement issues such as raising the age of eligibility of New Zealand Superannuation.

"They've always been intransigent" she says of the government on this issue.

However, she is pleased that the issue is now getting a lot of debate and that most New Zealanders will now know something about it.

A couple of years ago she was worried that a future government would have to make steep changes quickly and that would hurt people.

Over the past 10 years the office has achieved many things, she says. Of note is the growth and success of the Sorted website - which has just undergone a make-over. Also she has worked hard on financial literacy issues.

Now many organisations are working together on financial literacy and she has also been taking a role in promoting it at an international issue.

One of the recent successes has been to get the topic onto the next meeting of finance ministers from APEC countries.

Last year the Retirement Commission changed its name to the Commission for Financial Literacy and Retirement Income to "formally recognises the importance of financial literacy in preparation for retirement and the Commission’s work in helping Kiwis manage their money."

Crossan says she has no immediate plans, but felt it was time to step down after 10 years. The position is still a part time one but has increased from three and a half days a week to four days a week since she started.

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