Some important elements to note
- Labour is 100% committed to government superannuation being there for New Zealanders for generations to come. That’s why we are re-starting contributions to the Super Fund which National stopped. These policies are about securing New Zealanders in their retirement now and in the future. We are also guaranteeing that the rate of Super will be set at 66% of the average wage.
- Making Kiwisaver universal gives more security for people in their retirement, and allows us to accumulate a bigger pool of national savings that can be invested in businesses, jobs and growing the economy.
- Increasing the age of eligbility incrementally over 12 years from 2020 means that it will be 2033 when the the age is 67. This gives New Zealanders time to prepare for the change and ensures that we can manage our over 65 year old population as it doubles by 2050. Labour is introducing a transition payment for people who can not keep working in their normal job between 65 and 67. (eg manual labour).
Bill English has said that this is a “legitimate debate.” There are definitely different views on this issue. Let’s have the debate. Sadly John Key would not debate Phil Goff tonight. He said last night you can’t hide away when you are Prime Minister. Time to live up those words, and address the issue of how we manage our ageing population that everyone knows we have to deal with.