Superannuation Move Welcomed
May 2, 2002
NZNO welcomes Minister of Finance Michael Cullen’s support for a return to workplace based superannuation schemes for public sector workers.
The Dominion yesterday reported the Minister as saying the Government might make a new subsidised retirement savings scheme available to state sector workers as part of its commitment to resurrecting workplace superannuation schemes.
NZNO president Jane O’Malley said it was very important the Government take a lead in this area.
“Work based superannuation schemes will make a significant contribution to solving the problem of recruitment and retention of nurses. Nurses are looking for incentives to stay in nursing and in recent consultation with members over issue for the general election, retirement income was constantly raised. The average age of New Zealand nurses is 42, so the issue will become increasingly important. The fact that 95 percent of the nursing workforce is women makes it particularly important any such schemes are designed to cope with the breaks in service and fluctuating income associated with child rearing,” she said.
NZNO is asking the Minister of Health Annette King to ensure nurses are included in any public sector superannuation scheme.
“It is unfair that many senior doctors have access to district health board subsidised schemes while the vast majority of nurses have no such access,” she said.