Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Inadequate Superannuation

The Grey Power Federation has called on the Government to act swiftly to avoid a looming crisis for people who are solely dependent on national superannuation.

President Mac Welch said recent research revealed that the current level of National Superannuation did not provide a liveable income for people with no other revenue. Research conducted by Horizon Research on behalf of the Financial Services Council is backed up by research undertaken by Massey University and both studies clearly show that the current level of Superannuation payments fall well short of the amount of money needed to live even a subsistence lifestyle, he said.

Welch said Grey Power had consistently lobbied previous governments about the ever-widening gap between the level of current payments and the amount required to live even a frugal lifestyle, without result.

“This situation is only going to get worse as the level of home ownership decreases, those reaching retirement age with a freehold family home to sell also decreases. This means investing in a cheaper home or retirement village will not be an option for an ever-growing percentage of the retired population, making them even more dependent on National Superannuation as their sole means of support,” he said.

Welch said the Government needed to move quickly to avert this looming crisis.

“That could include increasing the level of superannuation contributions from Government funds, or making Kiwisaver compulsory. Whatever the answer, the time to act is now” he said.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Our Unreal Optimism About The Economic Impact Of Coronavirus

At this week’s Chinese New Year celebrations, PM Jacinda Ardern was resolutely upbeat that business with China would soon bounce back to normal – better than ever, even - once the coronavirus epidemic has been brought under control. To Ardern, the adversity has only accentuated just how close we are to Beijing Nothing wrong with being upbeat, if it can calm the nerves and turn business sentiment into a self-fulfilling prophecy. The problems begin when the optimism detaches itself from reality. What has been very odd so far about the coronavirus episode is that global share markets – normally spooked by mere sneezes or sniffles in the world’s major economies - have continued to be fairly positive, even as the epidemic has unfolded... More>>

First Published on Werewolf here


Gordon Campbell: On The Political Donations Scandals
Even paranoids have real enemies. While there has been something delusionary about the way New Zealand First has been living in denial about its donations scandal, one can sympathise with its indignation about Paula Bennett and Simon Bridges being among its chief accusers. More>>


UN Expert: NZ Housing Crisis Requires Bold Human Rights Response

This is a press statement from UN Special Rapporteur on the right to housing at the end of her 10-day visit to New Zealand. The Government of New Zealand has recognized that the country is facing a housing crisis, said Leilani Farha, UN Special Rapporteur ... More>>


2020 And Beyond: National’s Economic Plan

National Leader Simon Bridges has today outlined National’s economic plan heading into election 2020. “National understands the economy and how it impacts on New Zealanders day to day lives... More>>


Abortion Legislation Committee: Abortion Bill Report Presented To The House

The Abortion Legislation Committee has presented its report on the Abortion Legislation Bill to the House. A copy of the report is available here. The bill seeks to have abortion services provided like other health services... More>>


Auditor-General's Report : Water Management

The Auditor-General’s report Reflecting on our work about water management was presented to the House of Representatives today. Over the last two years we have been looking at how well public organisations are carrying out their water management ... More>>






InfoPages News Channels