True and depressing indeed.
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http://www.interest.co.nz/sites/defa...national_0.gifhttp://www.interest.co.nz/sites/defa...w%205050_1.jpg
- Maintain the link between Superannuation and 66 percent of the average wage, which means Super increase faster than inflation over time.
- National will keep the eligible age for Superannuation at 65.
- We are committed to resuming payments to the NZ Superannuation Fund when government debt falls below 20% of GDP
My point is that
1. It illustrates the perfidiousness of government policy on National Superannuation
2. I may be somewhat naeïve but I actually believed Bill English and Steven Joyce when they professed their whole hearted support for John Keys stance on National Superannuation
wonder when it be 69
winner69
To be fair, Andrew Little told Labour people he was unhappy with an increased super age and also capital gains tax, before he was elected leader. So this is now nearly a three year old policy from Labour. Two years change won't be a big portion of the super payouts anyway, as people who get to 65 must have an average life expectancy from there of 20+ years, or I'd hope so (Stats NZ says so). Labour will need to ensure there are enough funds put aside to cover the full super. Make no mistake, it's National who dropped the ball on this one. They stopped paying into the Cullen fund, and every sharetrader knows they missed a golden opportunity in the markets.
Funny that the existing Cullen fund didn't go to cash in a big way, they kept going I think. Along with most other major funds investing in shares. Smaller private investors like me might have pulled out, but there were a lot of good shares being bought up for a pittance in early 2009.
Colin Espiner in 2009. How right he was.
http://www.stuff.co.nz/the-press/opi...enie-out-again