Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Universal KiwiSaver needed for retirement


Universal KiwiSaver needed for retirement

Yet again National has been shown up as completely left behind on the sustainability of our retirement debate, as the Financial Service Council’s call for a universal KiwiSaver scheme shows, says Labour Finance spokesperson David Parker.

“A universal retirement contributions scheme is essential in New Zealand, not only to bolster Kiwis’ savings but also to increase our investment pool to support local businesses.

“It is critical that KiwiSaver is made universal as soon as possible. That is Labour policy, along with steadily increasing the retirement age to 67 to make it more affordable.

“We only need to look at Australia to see the success of their scheme. Kiwis retire on around $18,000 a year through super while Australia's compulsory scheme means their workers have more than $60,000 a year to retire on.

“The Australian fund has over $1.6 trillion invested and has helped them through the GFC. That sort of investment is essential to bolster local businesses, increase exports and reduce New Zealand’s $10 billion current account deficit.

“Labour will address the tax bias that favours speculation in rental housing to the detriment first home buyers, KiwiSaver and the economy through our pro growth tax reform. Our tax on rental housing speculation will help direct investment into productive industries and export jobs.

“National is way behind the eight-ball on retirement, not only on KiwiSaver, but also its refusal to address the retirement age. Labour is taking a responsible position. We will increase the age by two months per year from 2020, while protecting the vulnerable from those changes.

“It was National under Muldoon that scrapped Labour’s universal retirement scheme. That was one of the biggest political mistakes in modern New Zealand politics. Under John Key National appears keen to repeat it,” David Parker says.

ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

New Trial Periods; Industry Deals: Labour Releases Employment Policy

Labour will implement sensible changes to employment law to prevent the small number of bad employers undercutting good employers and driving a ‘race to the bottom’ on wages and conditions, says Leader of the Opposition Andrew Little.

“The current law undermines good employers who pay their employees well and offer good working conditions. They can find themselves undercut by a small number of bad employers who compete by driving down labour costs. More>>

 

Right In The Thiels: Just 12 Days In NZ Before Citizenship

DIA have received advice from the Ombudsman that a detail originally redacted from the citizenship file of Peter Thiel released in January for privacy reasons should be made available by 27 July. More>>

ALSO:

Domestic Violence And Teachers: Members’ Bills Ballot

The ballot was held, and resulted in the following bills being drawn:
54 Sentencing (Domestic Violence) Amendment Bill - Hon Nanaia Mahuta
16 Education (Teaching Council of Aotearoa) Amendment Bill - Chris Hipkins More>>

ALSO:

Legislation: Point England Housing Bill Passed

The passage of the Point England Development Enabling Bill through Parliament this evening will benefit Auckland with additional housing, help resolve Ngāti Paoa’s Treaty claim and improve the local environment and recreation facilities, Building and Construction Minister Dr Nick Smith says. More>>

ALSO:

Cyberducation: Digital Curriculum Launch And Funding Package

Consultation on new digital technologies content for the New Zealand Curriculum and Te Marautanga o Aotearoa, the Māori-medium Curriculum, was launched today by Education Minister Nikki Kaye. More>>

ALSO:

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election