New Zealand well prepared for ageing population

Published: Tue 18 Dec 2007 09:36 AM
Hon Dr Michael Cullen
Minister of Finance
18 December 2007 Media Statement
New Zealand well prepared for ageing population
Under the Labour-led government New Zealand has become one of the world’s best-prepared nations to meet the challenge of an ageing population, Finance Minister Michael Cullen said today.
Welcoming the release of the Retirement Commissioner’s review of retirement policy, Dr Cullen said that any effort to focus the attention of New Zealanders on our long-term challenges is one that the government welcomes.
“The Labour-led government believes that all New Zealanders deserve a good standard of living in retirement,” Dr Cullen said.
“That is why we reversed National’s cuts to superannuation rates, why we have committed ourselves to providing superannuation at 65, why we have invested heavily in the Superannuation Fund to make that commitment sustainable, and why we have introduced the hugely successful KiwiSaver scheme.
“The Commissioner is right to point out that fully funding superannuation and KiwiSaver well into the future will be a challenge, but it is a challenge the Labour-led government believes we can meet. Standard and Poors has already called New Zealand one of the best-prepared nations in the world to deal with the costs of an ageing population and we think we can build on that position.
“We will respond fully to the Commissioner’s report early in 2008, but we are opposed to raising the age of superannuation entitlement, cutting superannuation rates, or cutting KiwiSaver entitlements.
“I hope other parties will clarify their positions in the months ahead. We know that John Key personally supports raising the age of superannuation entitlement and that Bill English has already hinted about wanting to cut superannuation rates again.”

Next in New Zealand politics

Speech From The Throne
By: New Zealand Government
Law Commission Recommends New DNA Laws For Criminal Investigations
By: Law Commission
New Zealand Government To Declare A Climate Emergency
By: New Zealand Government
Crown Accounts Reflect Govt’s Careful Economic Management
By: New Zealand Government
Green Party Announce Portfolio Reshuffle With Talented And Energised Caucus Team
By: Green Party
NZ Govt Considers Making House Prices Part Of RBNZ Mandate
By: XE Money Transfer
Green Party Respond To Government Review Of Housing Settings
By: Green Party
Rewriting The Rulebook On DNA In Criminal Investigations – Expert Reaction
By: Science Media Centre
Government To Consider Recommendations On DNA Use In Criminal Investigations
By: New Zealand Government
Climate Change An Economic Issue; Critical For The Planet’s Future
By: Make Lemonade
Climate Emergency Declaration A Win But Needs Action
By: Greenpeace New Zealand
Declaration Of ‘Symbolic’ Climate Emergency
By: Extinction Rebellion
Minimum Wage Hike Isn’t What The Economy Needs
By: New Zealand National Party
Why Not $50 An Hour?
By: ACT New Zealand
Greens Commit To Ensuring Strong Oceans Protection This Term
By: Green Party
View as: DESKTOP | MOBILE © Scoop Media