Investing In Your Future, Should Retirement Savings Be Compulsory?

Part I of Essay
? At the time of the 1996 Census, 12% of New Zealanders were aged 65 or over. This proportion is forecasted to increase dramatically when the “Baby Boom” generation reaches retirement age, with the prospect of superannuitant numbers and the cost of income maintenance doubl ....

Part II of Essay
.... to retirement are to be funded with an aging population. Providing for retirement in New Zealand can be grouped into three major categories. 1.) Public Pensions 2.) Private and Occupational Pensions 3.) Private Investment and Savings. Until 1898 New Zealand had no public pensions. The expectation was that immigrants would provide for themselves and their families was outlined in the Destitute Persons Ordinance Act of 1846 and subsequent Acts in 1877, 1883 and 1894. New Zealand was seen as a land of opportunity and the government focus wa ....