Hon Simon Upton Opposition Superannuation Spokesperson

Thursday 27 January 2000

Take politics out of superannuation

New Zealanders want the politics taken out of superannuation, Opposition superannuation spokesperson Simon Upton said today.

"For those elderly who have no other income, this news will be welcome.

"But there has long been a question mark about the sustainability of superannuation and this makes the question mark even bigger.

"The share of national income consumed by superannuation will double over the next few decades and the Government has given no indication about how they would guarantee the long-run sustainability of superannuation.

"Instead of windfalls today and disappointments tomorrow, it would be far preferable to allow the superannuation taskforce to complete its work and establish a sustainable future that all parties can agree on.

"Today's adjustments have been done at a time when the economy is steaming ahead and the outlook is very positive," Mr Upton said.

"The Government is in the very fortunate position of having inherited a strong economy."

ENDS

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