Retirement office wants us well and truly sorted

Building the average New Zealander's financial literacy and skill is the aim of a new Retirement Commission education programme.

Called Sorted, the programme includes a website, which is being launched tomorrow, although it is already live.

The website offers calculators and other interactive tools so users can enter their own details to find answers to money questions.

A money personality profile is available on the website, so people can see their money management strengths and weaknesses.

Visitors to the website can also:

* Calculate their net worth and set goals.

* Use a savings calculator and "goal machine" to build a savings plan and understand the power of compound interest.

* Find independent information on what a mortgage or other loan is costing in interest - and how to better manage debt.

* Develop a financial plan for retirement.

The commission's public education manager Liz Read said Sorted marked a shift in focus from financial planning for retirement to helping people gain financial skills for life. But retirement planning promotion was not being abandoned.

Research showed a clear link between financial education early in life and financial wellbeing in retirement. The commission will also offer a publication from November called Sorted Offline.

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Sorted