INDEPENDENT NEWS

Grey Power Demands Parties Front On Superannuation

Published: Wed 1 Dec 2004 12:24 AM
Grey Power Demands Parties Front On Superannuation
Grey Power believes now is the time for all political parties to front the electorate with their New Zealand Superannuation Policies.
Grey Power warns, that Security Certainty and Sustainability in provision of New Zealand Superannuation can only be obtained if all Political Parties release their 2005 Policy on New Zealand Superannuation now, rather than at the most politically expedient moment.
Unless an all-party agreement is reached on the provision of New Zealand Superannuation the demands of political pragmatism and advantage, ensure the Superannuation Football will be kept on the touchline of political advantage and ideology.
Dr Brash’s announcement that the National Party now supports the “Cullen Fund” is most welcome.
Grey Power New Zealand is relieved that The National Party has taken such a giant step forward to help ensure Security Certainty and Sustainability in the provision of New Zealand Superannuation.” This for both current and Future Generations” of the retired.
The Utility of the Cullen fund is that it evens out the cost of providing New Zealand Superannuation when “ The Baby Boomers” come into retirement.
Current and future retirees can take heart from Dr Brash’s Announcement, but it should be noted that a conflict exists over The National party policy of financially supporting the “Cullen Fund while at the same time advocating large tax cuts.
Dr Brash’s response to the question of his party’s ability to fund both the Cullen Fund and Tax Cuts was, in part, that “By mid-century, ours will be a much wealthier society. We should comfortably be able to manage the rising cost of superannuation and health services – rising incomes solve many apparently insoluble problems.”
Grey Power believes that raising incomes today would also help those on Basic New Zealand Superannuation by lifting the current level of payment to a rate which offsets the continual rises in the cost of energy, rates, and indirect taxes.
Grey Power supports another rise in the level of the minimum wage to help this along.
It was pleasing to note that Dr Brash speaking on the National Program this morning said words to the effect that an advantage of the Cullen fund was that it was out of reach of political interference.
Grey Power also understood him to say there was a case for investing more of the fund in New Zealand, relative to the size of New Zealand’s economy.
Grey Power at its AGM passed a resolution to the effect that more of the “Cullen Fund should be invested in New Zealand.
Grey Power is urging all Political Parties, to put their Superannuation Policy on the table now. This will enable both young and old to indeed have confidence that there will be Security, Certainty, and Sustainability in the provision of New Zealand Superannuation for current and future generations.

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