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


Why wait to raise retirement age? Delay costs millennials

Why wait to raise retirement age? Delay costs millennials $58 billion

National have handed a $58 billion bill to under-45s, says ACT Leader David Seymour.

“According to Treasury figures, the cost of paying superannuation to 65 and 66 year olds between now and 2037 is $58 billion,” says Mr Seymour. “So delaying action represents a $58 billion wealth transfer from Millennials to the Baby Boomers.

“The scary thing is that ACT is the only party being responsible on Super. The other parties’ ideas are even worse than National’s.

-Labour have abandoned their past policy to raise the age. They know this change is essential, they’re just too scared to be up front with voters about it. The Greens are with them.

-Winston Peters ould scuttle any changes during post-election negotiations with National.

-Peter Dunne will not support any raise of the age.

-The Maori Party is even discussing lowering the age!

“Bill English could have saved Millennials $58 billion by starting the changes now, but instead he’s making them cover the escalating costs of pensions for Baby Boomers, who retire early and get off scot-free.

“Only a stronger ACT, with more MPs after the next election, can make National begin the Super changes in 2020, saving millennials from an unfair $58 billion tax burden caused by boomer pensions.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The EU’s Beef With Google

There’s every indication that Google would be on a losing wicket if it chooses to fight the European Union competition watchdogs, who have just levied a $3.3 billion fine on the firm – with the prospect of worse to come if Google doesn’t quickly change the anti-competitive practices at the heart of a court battle that’s been seven years in the making.

Essentially, the case involved Google’s alleged abuse of the stranglehold it enjoys on the online advertising associated with its search activities. More>>


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>>


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>>


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>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>


Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>





Featured InfoPages

Opening the Election
  • PublicAddress
  • Pundit
  • Kiwiblog