Labour lies to young Kiwis about Super

Labour has doubled down on their dishonest position on superannuation, pretending they can keep the age at 65 and ignore ballooning costs caused by an aging population, says ACT Leader David Seymour.

“It’s a joke. People of my generation know that we won't be receiving the pension at 65. A raise in the age is a matter of when, not if, and politicians who deny this are lying to New Zealanders.

“Pumping more money into the Cullen Fund just feeds the beast. It means billions taken out of taxpayers’ pockets to indulge the delusion of Super at 65, which would cost us 7.9 per cent of GDP in 2060, compared to 4.8 per cent today.

“This money would be far better used to bolster failing infrastructure, or simply just left with the people who earned it.

“Meanwhile, National admits there's a problem, but plans to delay any change for 20 years. That means we'll be paying higher and higher taxes for today's over-45s to retire early, before having that same right snatched away from us.

“Only ACT has credibility on Super. We’d confront costs by steadily raising the age, starting in 2020. It’s the responsible thing to do.”

ENDS

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