Bill English must heed Treasury’s warning

The Prime Minister must respond to the superannuation warning set to be delivered by Treasury today, says ACT Leader David Seymour.

Top-ranking Treasury officials will present the latest Long-term Fiscal Outlook to select committee at 11:15am today.

Prime Minister must take a position on Super – now

Future retirees deserve to know what the new Prime Minister’s plans are for superannuation, says ACT Leader David Seymour.

“As the former Finance Minister, Bill English knows that the numbers don’t stack up for keeping the superannuation age at 65. So why is he being so coy about his plans?” says Mr Seymour.

“He’s taken a step in the right direction by dropping John Key’s pledge to retain the age. But it’s also created serious uncertainty for savers. When it comes to long-term issues that affect people’s saving needs, certainty is vital.

Politicians must take Treasury’s long term position report seriously for young New Zealanders

ACT alone is calling for a debate over the sustainability of New Zealand Superannuation, says Leader David Seymour as Treasury releases its fourth long term fiscal update.

The release comes a month after Retirement Commissioner Diane Maxwell said that our current settings are unsustainable and, sadly enough, every political party except ACT ran for the hills.

ACT commends Diane Maxwell for starting debate

ACT Leader David Seymour is commending Retirement Commissioner Diane Maxwell for starting the conversation New Zealanders need to have about Super and retirement, and challenging other leaders to put their cards on the table for younger voters to see before next years' election.

Kiwis working longer, so when will we adjust Super?

“It’s baffling that the Government ignores the need for any adjustment of superannuation when Kiwis are working longer than ever,” says ACT Leader David Seymour.

New Zealanders are ranked second in the OECD for their longevity in the workplace, according to PwC's Golden Age Index. The report says one in three New Zealanders will work past the age of 65.

The biggest thing that’s not in the Budget

Budget 2016 is National’s eighth Budget to ignore New Zealand’s largest fiscal problem, says ACT Leader David Seymour.

“People of my generation don’t expect to get Super at 65, but we would like to know what’s happening. It’s sad that the Government has effectively banned a discussion, let alone action.

“In our lifetime we will go from five taxpayers per superannuitant, to two taxpayers per superannuitant.

“While an impotent opposition has allowed this Government to ignore the issue, history will look back unkindly on our failure to make a plan.

ACT welcomes NZ First to Superannuation debate

ACT Leader David Seymour is delighted to read of MP Denis O’Rourke’s concern over ‘the demographic realities of an increasingly ageing and mobile New Zealand population’.

“It’s heartening to see New Zealand First acknowledge what ACT has highlighted for a long time,” said Mr Seymour.

“O’Rourke’s Bill would trim Super payments for expats and immigrants, but the issue goes much wider. The entire structure of NZ Super needs to be reviewed in light of looming demographic pressure on NZ Super and health spending.

Which New Zealanders, Bill?

Bill English can't claim to speak for all New Zealanders on the future of NZ Super, says ACT Leader David Seymour.
"Bill English has accepted that Superannuation costs will balloon by a billion dollars extra each year but says New Zealanders are ok with this.  What he won’t say is, which New Zealanders?

ACT offers Labour a way out of NZ Super gaffe

ACT leader David Seymour today welcomed Labour engaging the debate over NZ Super’s future, but says they need to change tactics.

“Andrew Little appeared in The Herald to endorse means testing for superannuation before distancing himself from the idea within hours.

“He has shown why an issue with such important long term implications might be better handled under ACT’s referendum proposal.

National’s Budget ignores elephant in the room

The Budget’s focus is too short-term and ignores intergenerational issues, says ACT Leader David Seymour.

“National is denying the demographic realities behind rising Superannuation costs,” said Mr Seymour.

“New Zealanders are living longer than ever, a trend which won’t go away any time soon. As life expectancy rises by about a year each decade it would be fair to raise the age of eligibility for Super by about the same.