A regional push to increase uptake of advance care plans (ACPs) is reframing how healthcare planning fits into broader personal and insurance risk strategies, as new research reveals a lack of retirement confidence among New Zealanders.
WellSouth Primary Health Organisation, which serves Otago and Southland, recently introduced a funding model that supports general practices in helping patients complete ACPs – documents outlining care preferences in situations where a person cannot communicate their wishes due to illness or incapacity.
Helen Sawyer, one of WellSouth’s shared care plan coordinators, said the plans serve a vital role in future planning.
“Creating an ACP involves thinking and talking about your values and goals and what your preferences are for your current and future health care,” she said.
The funding covers consultation time and is targeted at individuals over 60 and those in priority groups, including Māori, Pasifika, and former refugees. Patients can complete ACPs independently or with help from their general practice, with final approval by a GP or nurse to ensure they’re clinically sound.
WellSouth is encouraging New Zealanders to include ACPs alongside wills and insurance policies in their personal planning portfolios because they may offer added clarity in claims processing – particularly in life, health, and long-term care lines – by providing documented preferences that support the insured’s intentions. This is especially relevant in cases involving palliative care or treatment limitation decisions.
“These plans are important to a person and their family. They should be in a person’s life kit with wills and insurance policies, and we encourage anyone to have an ACP conversation with those they love, and to contact your general practice to ask for an appointment,” Sawyer said.
The ACP rollout coincides with new findings from the InvestNow Retirement Readiness Index, which showed that just over half of those with a retirement plan are confident it will meet their needs.
Based on surveys of over 1,300 people, the report found that 50.4% of respondents with plans expressed confidence – highlighting broad uncertainty around financial preparedness for retirement.
Mike Heath, general manager of InvestNow, said the data indicates many Kiwis lack clarity on whether their current savings will support their retirement goals.
The survey also revealed stark differences between groups. While 78% of InvestNow users had a plan, only 47% of the general public did. Confidence levels varied as well – 70% among customers versus just 19% among non-customers. More than a third of all respondents said they had no retirement plan at all.
These findings align with insights from the New Zealand Retirement Expenditure Guidelines, jointly produced by Financial Advice New Zealand and Massey University’s Fin-Ed Centre. The guidelines offer projections on how much income is needed for different retirement lifestyles, and they flag key risks such as inflation and outliving personal savings.
