It's come up again because the boss of Milford Investments has given a speech warning that this talk of taking the pension age from 65 to 67 is simply not enough.
And realistically, we have to lift it from 65 to 72 or maybe 73.
Apparently, we aren't taking the unaffordability of superannuation seriously enough, which actually I do agree with, the latter part, that we're not taking it seriously enough.
About 60 years ago, we used to have eight workers supporting one pensioner.
Today, we've got half of that, four workers supporting every one pensioner.
By the time I'm claiming my pension, it's going to be two workers supporting every pensioner.
That is completely unaffordable.
It will not work.
We will not be able to do it.
My prediction is that we are not going to take this seriously until we see the government starting to take this seriously because unfortunately, they are the ones who have to lead here.
They need to start leading by example.
If they want us to save money by giving up years of our pension, which is what the National Party will likely campaign on, then I'd like to start to see them starting to save money as well.
No more throwing money at the Sunny Kaushal’s of this world-or to, in my opinion, silence possible criticism.
No more giving billions to Shane Jones to blow on businesses that can't stand on their own two feet without government funding.
No more giving students a year of free tertiary education to buy votes.
When they start taking the so-called silver tsunami seriously, so will the rest of us, I suspect.
It's called compromise.
Until then, the pension remains the way that hardworking taxpayers who don't get all that other free government money, get back some free government money.
Heather du Plessis-Allan is a journalist and commentator who hosts Newstalk ZB's Drive show. This article was sourced from Newstalk ZB.
6 comments:
Heather is right, but we have to look at NZ's income as well. We should look after our farmers and not buy into the climate change hysteria.
Adopt the Western European model whereby everyone, whether working or on a benefit, pays into a Super/pension fund. There can be top-ups for people who don't make a prescribed minimum when they reach pensionable age.
As an aside, I spent a few days in hospital a couple of weeks ago and was looked after by one nurse who was 71 and another who was 74, and with regard to service and attitude they beat the younger ones hands down.
If the retirement age is raised we need more jobs so people can keep working, otherwise they will be on a benefit by whatever name, a version of the dole or sickness or something else. Call it what you will. And sickness among our obese population compounds issues as we age. So money spent on super is reduced and spent anyway on an alternative.
Some jobs are harder on body, that some people are warn out come 65. One person might be fine to work on others not. Also will now have to factor in AI impacts on jobs and types of jobs going forward. Will there be enough jobs around that allow people to keep working for as long as they like. Mum was working full time at 71 and had no intention of retiring but injury and health intervined. How are we going to fund Health going forward as well? Now there is more automation in the work place so fewer jobs in her feild.
We are also now very late in the day re a practical and timely workable solution. Payments are falling due in this area.
Govt after govt have failed the NZ people in this matter of super.
Same can be siad of the management of the economy and the many aspects that go with that. NZ has been in decline for decades both economically and society as a whole. It is nolonger just a discussion re NZ super. We are in deficit on every front. The world we live in is also changing fast. What we think we know today may not be the case tomorrow.
quote 'Apparently, we aren't taking the unaffordability of superannuation seriously enough, which actually I do agree with, the latter part, that we're not taking it seriously enough.'
JUST STOP PAYING INTO THE GRIEVENCE INDUSTRY!!!!
END ALL CLAIMS-plastic descendants are JUST NEW ZEALANDERS, NOTHING MORE!!!
No mention of the Maori rort of billions of our taxes for raced based B.S. like Maori (only) getting paid time off work for "cultural activities" , why not? Afraid of the racist label?
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