Alarm at reopening of Superannuation Debate
Grey Power National President Graham Stairmand
Alarm at the reopening of the Superannuation Debate
He is urging all political parties to return to a Non Partisan Accord on the provision of New Zealand Superannuation.
The previous Accord fell victim to the first coalition government and its essay into compulsory Superannuation.
The Accords demise was followed by a savage attack on New Zealand’s Retired population by the minority National Government.
Mr. Stairmand asks how many Politicians know what it really likes to live on basic Superannuation? 400,000 Kiwis could tell them, Very, Very Difficult!
Retrospective adjustments to the level of New Zealand Superannuation based on the Cost Price Index do little alleviate the reduction in spending power of the retired.
Continual increases in the costs of energy, Local Body Rates; variations in food prices coupled with increases in indirect taxation have had heavy negative impact on the retired.
The President went on record as saying the country would be better served if all political parties unequivocally committed themselves to the provision of Universal New Zealand Superannuation for all generations as an entitlement.
A combination of economic growth and progressive taxation would ensure this.
The ability to save could be enhanced by increasing the legal minimum wage payable to workers.
Economists of the calibre of Len Bayliss contend that New Zealand Superannuation is sustainable now and in the future.
Mr. Bayliss argues that New Zealand Superannuation is low cost universal and sustainable. He contends that with an economic growth of only 3% per annum the impact future working populations would not be excessive.
What Political party aspiring to the government benches ever indicates to the electorate that its tenure of office will produce only 3% growth?
The Cullen Fund although debatable will even out the burden of the cost of Superannuation when the baby boomers retire.
Yet again Grey Power urges all political parties to come to an Accord on the provision of New Zealand Superannuation for all generations.