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Super Level Must Increase - Peters

29 June 2008

Super Level Must Increase - Peters

New Zealand First has warned National and Labour to prepare to lift superannuation levels to 68 percent of the national average wage after the next election – whichever party forms the government.

This follows a newspaper report today (Sunday Star Times) that both parties have agreed to maintain superannuation at 66 percent of the national average wage in line with New Zealand First's current agreement with Labour.

Leader Rt Hon Winston Peters said today that 66 percent was still too little for a large number of the elderly who had little or no other income and faced soaring living costs.

“With inflation at its current levels, 66 percent means that the elderly are barely keeping up with imported inflation – not the real cost of living.

“The cost of 68 percent is an estimated $200 million which is quite affordable and it would mean fewer elderly people shivering in their homes or cutting back on basic foods.

“New Zealanders over 65 years were savaged by National in the nineties and it is interesting to note John Key's commitment on superannuation today because a number of his senior MPs, including his deputy, were those involved in slashing superannuation ten years ago.

“People should take note of politicians' actions rather than their promises,” said Mr Peters.


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