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Government must heed OECD’s superannuation warning

Government must heed OECD’s superannuation warning

The Government would be foolish to ignore the OECD’s warning on superannuation, says ACT Leader David Seymour.

“The OECD’s economic survey of New Zealand, released today, recommends bringing forward the age of eligibility for superannuation increase, lengthening the transition period, and indexing the pension age to life expectancy – all of which are ACT policies.

“The OECD represents countries with rapidly aging populations, many of which are suffering serious fiscal consequences due to non-adjustment of superannuation. When economic basket-cases are warning us not to repeat their mistakes, we’d do well to listen.

“The Prime Minister’s commitment to adjust the age in 20 years is no commitment at all. Only ACT has been strong on this issue. Adjusting the age in 2020 would save tens of billions, lengthening the transition period would make the changes more equitable, and indexing the age to life expectancy thereafter would ensure superannuation costs don’t spiral out of control again.

“The more MPs ACT has after the election, the sooner we can make the Government stop ballooning superannuation costs.”

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