COTA NSW urges government to provide better information services

The National Information Centre on Retirement Investments (NICRI) has recently been advised that it will no longer be receiving funding from the Federal Government.

COTA NSW urges government to provide better information services

COTA NSW urges government to provide better information services

Released: 29-Jan-2015

Event Date: to

COTA NSW urges government to provide better information services



The National Information Centre on Retirement Investments (NICRI) has recently been advised that it will no longer be receiving funding from the Federal Government. The decision to cut funding to NICRI leaves people with no option but to seek out paid financial advice.

COTA NSW is deeply concerned that the cutting of funding for the free, independent financial services advice offered by NICRI could lead to an increase in the number of people making poor financial decisions. For those who cannot afford to pay for advice, potentially poor financial decision making could quickly take them from being financially independent to destitute. This move does not help to enable people to make decisions which allow them to remain self-sufficient.

In its full media release on the issue COTA NSW has stated that in the lead up to the State Election it will be encouraging all State political parties to “commit to funding an independent information service that offers advice to older people about their finances and housing as they age”.


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