Belinda Vernon
National List MP

22 March 2000

Cullen's pet is looking even sicker

Dr Cullen has by-passed the Government's own superannuation watch-dog to come up with his personal pet, the super fund, National list MP Belinda Vernon said today.

In questioning at the Social Services Select Committee today, Retirement Commissioner Colin Blair said he had given no advice to Dr Cullen on his proposed superannuation fund scheme, nor had he been asked for advice.

"It defies belief that the Retirement Commissioner, the person responsible for getting New Zealanders to plan for their retirement, has not been consulted on Dr Cullen's superannuation proposal.

"It is clear the policy has been created in a vacuum with no in-depth or quality policy advice.

"No wonder there's not enough backing for it and the whole thing has been put on life support."

Ms Vernon said Dr Cullen's super fund proposal flew in the face of the advice to New Zealanders in the Retirement Commissioner's publicity campaign to pay off debt as they prepare for retirement.

"Dr Cullen knows that the principle of paying off debt applies as much to Government as it does to individuals.

"Dr Cullen has not thought past the simple idea of having a big piggy bank for the Government to play with," Ms Vernon said.

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