Retirement Commission drives collective action
The Retirement Commission has launched the National Strategy for Financial Capability 2025–2027.
The three-year plan brings together more than 900 partners, including government agencies, community organisations, banks, fintechs, and financial mentors.
The initiative focuses on improving financial resilience and helping New Zealanders grow their money through practical and measurable actions.
Building on the success of its predecessor launched in 2021, the updated strategy addresses current challenges like rising living costs, unemployment, and climate pressures. By pooling resources and expertise, the strategy empowers people to reduce debt, save, invest, and protect their finances from unexpected events.
Prioritising key groups for impact
The strategy places special emphasis on supporting Māori, Pacific Peoples, women, and young people – groups that face significant financial challenges.
For instance, 77% of Māori report financial stress, while Pacific Peoples are more likely to worry about finances between paychecks.
Women often face economic disadvantages due to pay inequities and caregiving responsibilities, resulting in lower retirement savings.
Young people, newly added as a priority group, are seen as a crucial audience for early financial literacy to positively shape their long-term financial stability.
Addressing these disparities with culturally tailored programs fosters greater equity and empowerment across communities, the Retirement Commission said.
Financial education at the core
A key component of the strategy is improving financial education, particularly in schools, to equip younger generations with essential money management skills.
“The sooner people learn about money, the better equipped they are to create a more positive financial future,” said the Retirement Commission, which advocates KiwiSaver reforms.
By coordinating education across age groups and using a shared framework, the strategy ensures consistent messaging and greater reach.
Collaboration for measurable progress
The plan outlines more than 20 projects, including professional development programs and shared measurement tools to track outcomes.
Read more about the National Strategy for Financial Capability. For additional information regarding the initiative visit the LinkedIn pages of the Retirement Commission and the Financial Services Council New Zealand.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
