The Government should be commended for the tentative "first step" in attempting to resolve the question of the future of publicly funded superannuation United New Zealand leader, Hon Peter Dunne said today.

"While this is undoubtedly a genuine effort on the part of the Treasurer to put a viable public scheme in place there are some major pitfalls.

"United New Zealand has consistently called for a broad consensus on this issue including, no only including other political entities, but also those from the superannuation industry, interest groups and the Retirement Commissioner.

"it is a pity that the government did not try to achieve consensus first before putting up this option and effectively challenging other parties to risk knocking it down.

"Until a wider agreement can be reached that this proposal is the way to proceed the whole issue remains a political Ping-Pong ball ready to be batted over the net every time there is a change of government.

"What guarantee is there that a new government will not change things around in two years time?

"We would also like to see a more rounded approach to superannuation provision with some positive incentives to facilitate the provision by private means as well.

"Ultimately this scheme must allow for the fact that there will inevitably be radically changing circumstances occurring over the next 40 years as there have been during the last 40.

"Meantime we are happy to have these proposals examined by the select committee.

ENDS

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