Kiwis working longer, so when will we adjust Super?

Press release: ACT New Zealand
June 16, 2016. 10:30am

“It’s baffling that the Government ignores the need for any adjustment of superannuation when Kiwis are working longer than ever,” says ACT Leader David Seymour.

New Zealanders are ranked second in the OECD for their longevity in the workplace, according to PwC's Golden Age Index. One in three New Zealanders will work past the age of 65.

“Kiwis are living longer and demonstrating potential to make enormous contributions to the economy, but the Government has turned a boon into a boondoggle by locking the age of NZ Super eligibility at 65.

“A long-term increase in the age of eligibility would create a natural incentive for people to work longer. This would create a productivity boost and be fairer on young taxpayers who know they are unlikely to receive superannuation at age 65.

“Parliament could debate the age of eligibility and flexi-super options at any time, if it weren’t for John Key’s 2008 promise not to touch the issue. John Key could relieve himself of this promise by campaigning on reform and gaining a mandate from voters at the next election.”

ENDS

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