The Retirement Income Interest Group of the NZ Society of Actuaries (RIIG) has published a framework for how to think about drawing down income from KiwiSaver.  A copy of the new paper can be found here. The NZSA would like to invite you to a virtual sessional meeting via Zoom where the RIIG will present on this paper’s content and findings. The paper sets the scene of drawdown in New Zealand today, explaining why it’s a difficult and risky problem, which no country has adequately solved.  Then we describe a framework for identifying funds able to be drawn down using simple Rules of Thumb.  We explain why that should be a flexible plan with reviews – not “set and forget” – because income needs for the whole of retirement will not be able to be foreseen.  Finally, we look at policies to make drawdown a success. RIIG agrees with the National Strategy for Financial Capability that agencies should work together to provide consistent content to demystify money.  We see consistency as critical to avoid confusion for retirees trying to solve a complex question.  We offer the framework in this paper, and the Rules of Thumb and presentations of key longevity data in RIIG’s earlier papers, as starting points for a consistent approach in how agencies guide retirees to think about how much to draw down from KiwiSaver. The paper also makes a case for New Zealand Superannuation to be retained as a strong foundation for KiwiSaver drawdown, and for more information about longevity and drawdown options to be given on KiwiSaver statements.