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

Gordon Campbell: On The Life And ACC Work Of Sir Owen Woodhouse

With the death of Sir Owen Woodhouse, the founding father of the Accident Compensation Scheme, New Zealand has lost one of the titans of its post-war social policy.

In its original incarnation in the early 1970s, ACC had been a globally innovative “no fault” scheme whereby accident victims surrendered their right to sue those responsible – on the understanding that they would receive compensation at a level that, as Woodhouse famously stated, would be sufficient to enable accident victims to fully participate in social life... More>>

 

Parliament Today:

Bad Transnationals: Rio Tinto Wins 2013 Roger Award

It won the 2011 Roger Award and was runner up in 2012, 2009 and 08. One 2013 nomination said simply and in its entirety: “Blackmailing country”... More>>

ALSO:

Select Committees: Tobacco Plain Packaging Hearings

The Stroke Foundation is today backing the Cancer Society and Smokefree Coalition who are making oral submissions to the Health Select Committee in support of proposed legislation to remove of all branding from tobacco products. More>>

ALSO:

Milk: Oravida Asked For Cabinet Help

New evidence released by New Zealand First today reveals Justice Minister Judith Collins used her position to manipulate the Government to help her husband’s company, Oravida, after the Fonterra botulism scare, says New Zealand First Leader Rt Hon Winston Peters. More>>

ALSO:

With Conditions: Ruataniwha Consents Approved In Draft Decision

The Tukituki Catchment Proposal Board of Inquiry has granted 17 resource consents relating to the $265 million Ruataniwha Water Storage Scheme in a draft decision that would open more of the Hawke’s Bay to irrigation. More>>

ALSO:

Fast Lanes, Campervans: Labour 'Making The Holidays Easier For Kiwi Drivers'

The next Labour Government will make the holidays easier and journeys quicker for Kiwi families driving on the roads, says Labour Leader David Cunliffe. More>>

ALSO:

Gordon Campbell: On Royalty And Its Tourism Spin-Offs

Ultimately the Queen’s longevity has been one of her most significant accomplishments. A transition to Prince Charles while the monarchy was in the pits of public esteem in the mid to late 1990s would have been disastrous for the Royal Firm. Far more congenial representatives have now emerged... More>>

ALSO:

Privacy (Again): ACC Demands Excessive Privacy Waivers

Labour: “This is just another example of ACC under National deliberately acting to deny treatment and compensation... Those who did fill in the form have effectively been victims of yet another ACC privacy breach. This time Judith Collins knew it was happening..." More>>

ALSO:

IPCC: Many Pathways To Substantial Emissions Reductions Available

A new report by the Intergovernmental Panel on Climate Change (IPCC) shows that global emissions of greenhouse gases have risen to unprecedented levels despite a growing number of policies to reduce climate change. Emissions grew more quickly between 2000 and 2010 than in each of the three previous decades. More>>

ALSO:

Bowels: Green Light From Labour For Cancer Screening Programme

Labour Leader David Cunliffe has today committed to a national bowel screening programme, starting with extending the current service to the Southern and Waikato districts. More>>

ALSO:

Dotcom Speaks To Mana AGM: Negotiations With The Internet Party To COntinue

The MANA AGM decided unanimously to continue negotiaitions with the Internet Party. Within a month further negotiations, further consultation with MANA branches and a final decision on whether to proceed with a relationship is expected. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news