Extending Retirement Age Is Not The Super Solution
“Calls to solve the super funding issue by extending the retirement age past 65 are inappropriate,” said Ross Wilson today.
A recent Treasury discussion paper mentions this as one of a number of options.
“But it is important that New Zealanders have certainty in this hugely important area of their lives,” he said.
“Workers need the stability of planning ahead for a retirement age and the qualification date for NZ Superannuation must be more than a mirage which moves away as workers approach it.
“Even if some sectors of the population are living longer and may remain in the workforce longer, there are significant sectors who perform hard manual work and are worn out well before the current retirement age of 65. In addition the intensity of work is increasing.
Ross Wilson said the Government had made a commitment to 65, to the current level of payments and had established the super fund to assist with future funding requirements.
The CTU would also like to see greater employment based superannuation.
“Policy stability in
this area of retirement security is what most New Zealanders