29 November 2004

Hon Jim Anderton MP, Progressive Leader

Progressive welcomes National's commitment to pre-fund superannuation

"The National Party's commitment today to pre-funding part of the future costs of National Superannuation is welcome because it is good news for future retirees," says Progressive leader Jim Anderton.

"The National Party should be congratulated for coming to this sensible decision.

"All serious parties are now committed to putting away some money today so that we can better protect future retirees against the indignity of poverty in old age," Jim Anderton said.

The demographics of New Zealand are changing and the financial costs of maintaining National Superannuation will rise as this century progresses.

"National is now joining the coalition government which decided five years ago that we'd put our hand up for future generations when we committed ourselves to putting away thousands of millions of dollars today to help protect the income of future generations in their retirement," the Progressive leader said.

Jim Anderton, who initiated the first multiparty National Accord on retirement Income a decade ago, said that only parties that have a "cynical disregard for retired people" still propose to dismantle the New Zealand Superannuation Fund established by the coalition government.

ENDS

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