In 2017 Whai Rawa carried out a survey to hear from whānau what their appetite is for a potential Ngāi Tahu KiwiSaver savings option. In addition to this we also asked whether different risk or fund options would be attractive to members (currently the Whai Rawa savings scheme has one fund or risk option; the Whai Rawa Conservative Fund).
We received the report back from our researchers (the full report and a summary are below).
Based on the research and detailed analysis, in April 2018, Whai Rawa Fund Limited recommended to Te Rūnanga, progressing work on Investor Choice. This could mean adding a choice of risk, to suit different risk appetite. Members will be kept informed of this work during 2018/19. A Ngāi Tahu Whai Rawa KiwiSaver is not planned at this time.
In 2010 Te Rūnanga o Ngāi Tahu worked with Colmar Brunton to implement the ANZ Ngāi Tahu Financial Knowledge Survey modelled closely on the Commission for Financial Literacy and Retirement Income’s 2009 Financial Knowledge Survey.
The Survey was conducted to:
The results identify a number of key areas where whānau can improve their level of financial knowledge and apply that knowledge to everyday decisions about money.
There are indications from the Survey that people forget some knowledge, particularly if it is not directly relevant to them or if it is not used regularly. This signals that information and educational tools need to be continually visible.
We encourage whānau to develop financial knowledge and understanding through the new Sorted website its associated booklet resources and via other useful websites as well as utilizing new tools for financial management such as those offered by many banks.