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

Joint Statement: Establishment Of NZ-China Strategic Partnership

At the invitation of Governor-General Lt Gen The Rt Hon Sir Jerry Mateparae and Prime Minister The Rt Hon John Key of New Zealand, President Xi Jinping of the People’s Republic of China made a state visit to New Zealand from 19 to 21 November 2014.

During his visit, President Xi Jinping met with Governor-General Jerry Mateparae, and held talks with Prime Minister John Key. The leaders had an in-depth exchange of views on bilateral relations as well as regional and international issues of common interest. More>>

 
 

Parliament Today:

Savings Targets: Health Procurement Plan Changes Direction

Next steps in implementing DHB shared services programme Health Minister Jonathan Coleman says the Government has agreed to explore a proposal put forward by DHBs to move implementation of the shared services programme to a DHB-owned vehicle. More>>

ALSO:

More on Health Policy:

Auckland Unification: 'No IT Cost Blowout' (Just More Expensive)

Following discussion of an update on Auckland Council’s Information Services Transformational Programme at today’s Finance and Performance Committee, council has released the report publicly. More>>

ALSO:

Other Expensive Things:

Gordon Campbell: On The SAS Role Against Islamic State, And Podemos

Only 25% of the US bombing runs are even managing to locate IS targets worth bombing. As the NYT explains at length, this underlines the need for better on-the-ground intelligence to direct the air campaign to where the bad guys have holed up... More>>

ALSO:

Public Service: Commission Calls For Answers On Handling Of CERA Harassment

EEO Commissioner Dr Jackie Blue is deeply concerned about the way in which the State Services Commission has handled sexual allegations made against CERA chief executive Roger Sutton this week and is calling for answers. More>>

ALSO:

Gordon Campbell:
On Andrew Little’s Victory

So Andrew Little has won the leadership – by the narrowest possible margin – from Grant Robertson, and has already been depicted by commentators as being simultaneously (a) the creature of the trade unions and (b) the most centrist of the four candidates, which would be an interesting trick to see someone try in a game of Twister. More>>

ALSO:

China President Wishlists: Greens Welcome Xi, But Human Rights Need To Be On Agenda

“President Xi has made some progress on climate change, but he must also lift the Chinese government’s game on human rights issues,” Green Party Co-leader Dr Russel Norman said... It is important that our Government continues to urge the Chinese government to show restraint and respect human rights in both Tibet and the Xinjiang province.” More>>

ALSO:

Airport Security Breach: CAA Fines Minister

Minister Brownlee has been issued an infringement notice and is required to pay a $2000 infringement fine for breaching Civil Aviation Rule 19.357(b), which states no person may be in an airport security area without an appropriate identity card or document. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news