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Politicians must clarify superannuation positions


4 DECEMBER 2018


The New Zealand Taxpayers’ Union says savers deserve to know what plans politicians have for Super, in light of a new report recommending changes to the system.

Taxpayers' Union spokesman Louis Houlbrooke says, “The New Zealand Initiative’s suggestions of linking the eligibility age to health expectancy, and pegging pay rates to inflation instead of wages, are certainly taxpayer-friendly. But the politicians need to forecast changes of this type as early as possible, so New Zealanders can adequately adjust their financial plans.”

“It is clear that increasing costs will lead to changes in policy, but both major parties are doing savers a disservice by remaining silent on the issue. It is not, for example, clear whether Simon Bridges is retaining Bill English’s policy of lifting the eligibility age to 67 in 2040. And while the current Prime Minister has pledged not to change the age, she has not explained whether her Government will means test Super or alter the payment rate.”

ENDS


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