Raising retirement age won’t work

7 December 2010 -- News Release

Raising retirement age won’t work

Retirement Commissioner Diana Crossan’s proposal today to raise the retirement age in New Zealand from 65 to 67 is unfair and won’t work, says the Engineering, Printing and Manufacturing Union (EPMU).

“In a low wage economy such as New Zealand shifting more of the burden of superannuation funding onto working people doesn’t make sense,” says EPMU national secretary Andrew Little.

“New Zealand suffers from low wages and has a low level of saving.”

“The current superannuation system reflects a balanced approach to ensuring New Zealanders dignity in their retirement.”

The EPMU is New Zealand’s largest private-sector union, representing around 45,000 working New Zealanders across eleven industry sectors.

ENDS

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