National Now Officially Two-Tongued On Super - Cullen

"National's decision to appoint two spokespeople on superannuation - one for current and one for future retirees - should make all New Zealanders under 60 very nervous," Finance Minister Michael Cullen said today.

"The clear and only implication is that National plans to cut super' entitlements for those yet to retire.

"All that remains to be revealed is what form the cuts will take: an increase in the retirement age to 70, the reimposition of some form of means-testing, or a simple cut to the basic rate?

"The alternative being offered by the Labour-Alliance coalition is much fairer across generations and across income groups," Dr Cullen said.

"Only through partial prefunding can we protect the value of New Zealand Super through the cost pressures created by an ageing population without imposing an unfair tax burden on the workers of the future."

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