MEDIA RELEASE
28 January 2000
GREY POWER APPLAUDS
A GIANT STEP AWAY FROM POVERTY FOR THOUSANDS OF RETIRED KIWI’S.
The first of April can not come to soon for retired New Zealanders.
The long awaited restoration of New Zealand Superannuation to a living wage has signalled yet again that this coalition
government means what it says and gets on with the job.
It is a long time since 1991 and a massive achievement for our seventy four associations all around the country. The
long struggle to restore a living wage to retired New Zealanders has taken a giant step forward.
The effect will be felt by the whole nation as the increase in spending power and carries through to increased
employment.
Superannuants are already down to 62.66% of the net average wage and due to be forced down even futher by the previous
government.
The move on the first of April will restore the link to 67 percent of the net average wage. Economic circumstances mean
that by maintaining the link to the CPI until the rate for a married couple reduces to 65% of the net average wage the
country will be able to sustain the payments under the new governments proposed legislation.
Grey Power urges all Political Parties to get behind the proposed legislation. Sort the Future of New Zealand
superannuation out in the select committees . Then for all our sakes keep their hands off it for ever.