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United Future and superannuation

Media statement
For immediate release
Thursday, 4 March 2004

United Future and superannuation

United Future leader Peter Dunne says if ever there was a time when a multi-party accord on superannuation was needed, that time is now.

“Adequate provision for our old age is so fundamental to the sense of safety and well-being all New Zealanders want that it simply cannot be left to be scrapped over by warring politicians.

“Dr Brash has again raised the issue of inter-generational warfare with those over 50 thinking they’ll be just right and those under 50 becoming resentful that they’ll have to work longer to be entitled to less.”

Mr Dunne said “This debate cannot descend to the level of politicians pointing the finger at each other and quoting from speeches of ten years ago.

“United Future supports the pre-funding of a portion of New Zealand Superannuation, via the Cullen Fund.

“We would ensure all New Zealanders over the age of 65, with 10 years or more residence in New Zealand receive universal superannuation.

“Married couples will receive 65% of the average ordinary time wage after tax.

“Single superannuitants living alone will receive a gradual lift from the present level of 41% of the average ordinary time wage after tax, to nearer 50%, with a consequential adjustment of the married rate to 72.5%.

“United Future want to see a community volunteer tax rebate as both a financial incentive and recognition of the contribution of older people in society.

“These are just some of the practical measures we want to see to provide an income and security for older New Zealanders,” said Mr Dunne.

Ends

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