Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Flexible Superannuation threatens tired old workers

Flexible Superannuation threatens tired old workers

By Don Franks

If you are an older worker in a physical low wage job, watch out.

Treasury has released a discussion document on Flexible Superannuation, brainchild of UnitedFuture leader Peter Dunne.

The paper forwards an option to start drawing a pension five years earlier than people can currently do so, but at a substantially lower weekly rate.

The lower rate would remain at its level until death.

Alternatively, workers could delay drawing the pension until as late as 70, getting a much larger packet.

Mr Dunne said there were "obvious advantages" for some groups, such as those who were "physically exhausted" by age 60 because of work, Maori and Pasifika people because of generally shorter life expectancy, and those who were working beyond 65.

The only “obvious advantage” in this scenario is to the wealthier people in New Zealand, those who enjoy better health and are in the type of employment that can be carried on at a greater age.

People like Peter Dunne.

Prime Minister John Key said the idea had merit and would not contradict his firm promise, made in 2008, to never raise the age of eligibility for NZ Super because the scheme would be voluntary.

In fact, Key has just broken his promise. What choice does an exhausted sixty year old manual worker really have in such circumstances?

Labour’s finance spokesman David Parker said the party would consider the policy.

Mr Parker warned that some workers would be tempted to take the money early because of difficult financial circumstances - even if that meant they ended up with less money for much longer.

"Some people, because of their economic circumstances might be pressured to take their pension early, despite the fact that doing so could mean they live in poverty as they age."

What hypocrisy.

The Labour party has been leading the charge for the superannuation. elegibility age to be raised.

The social contract is about to be broken and the divide between rich and poor in New Zealand is about to be further widened.

That sort of injustice is not unavoidable.

A socialist society would provide decent pensions for all workers in need.

When will we get serious about fighting for such a society?

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Scoop Business: Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out.

The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill, it said in a statement. The casino operator had previously estimated the centre would cost $402 million, which it had agreed to cover in return for extensions to its Auckland gaming licence.

The company today lodged its application for a resource consent. More>>

 

Parliament Adjourns:

Greens: CAA Airport Door Report Conflicts With Brownlee’s Claims

The heavily redacted report into the incident shows conflicting versions of events as told by Gerry Brownlee and the Christchurch airport security staff. The report disputes Brownlee’s claim that he was allowed through, and states that he instead pushed his way through. More>>

ALSO:

TAIC: Final Report On Grounding Of MV Rena

Factors that directly contributed to the grounding included the crew:
- not following standard good practice for planning and executing the voyage
- not following standard good practice for navigation watchkeeping
- not following standard good practice when taking over control of the ship. More>>

ALSO:

Gordon Campbell:
On The Pakistan Schoolchildren Killings

The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto something that’s become a pop cultural meme. Fans of the Homeland TV series will be well aware of the collusion between sections of the Pakistan military/security establishment on one hand and sections of the Taliban of the other… More>>

ALSO:

Werewolf Satire:
The Politician’s Song

am a perfect picture of the modern politic-i-an:
I don’t precisely have a plan so much as an ambition;
‘Say what will sound most pleasant to the public’ is my main dictum:
And when in doubt attack someone who already is a victim More>>

ALSO:

Flight: Review Into Phillip Smith’s Escape Submitted To Government

The review follows an earlier operational review by the Department of Corrections and interim measures put in place by the Department shortly after prisoner Smith’s escape, and will inform the Government Inquiry currently underway. More>>

ALSO:

Intelligence: Inspector-General Accepts Apology For Leak Of Report

The Inspector-General of Intelligence and Security, Cheryl Gwyn, has accepted an unreserved apology from Hon Phil Goff MP for disclosing some of the contents of her recent Report into the Release of Information by the NZSIS in July and August 2011 to media prior to its publication. The Inspector-General will not take the matter any further. More>>

ALSO:

Drink: Alcohol Advertising Report Released

The report of the Ministerial Forum on Alcohol Advertising and Sponsorship has been released today, with Ministers noting that further work will be required on the feasibility and impact of the proposals. More>>

ALSO:

Other Report:

Leaked Cabinet Papers: Treasury Calls For Health Cuts

Leaked Cabinet papers that show that Government has been advised to cut the health budget by around $200 million is ringing alarm bells throughout the nursing and midwifery community. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news