Keep up with
Newstalk ZB

Wed, 22 May 2013, 05:51

Have Your Say

Talkback 0800 80 10 80
Overseas +64 9 307 1080
Text 9292

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • RSS
  • Sign Up

Site Search

Search Search

Select your region:

Mike's Editorial: Raising the super age

Share |

By: Mike Hosking | Tuesday, June 12, 2012 9:20 AM

If the TV3 poll last night on the superannuation age is remotely accurate, doesn’t John Key find himself in a weird old space.

63 percent want the entitlement age raised to 66 or 67, and 54 percent think he should abandon his promise not to touch it. It’s a rare old day when you have the public urging the Government to make a current policy less attractive and even rarer when they’re seemingly telling them to walk away from promises.

So what does all this tell us? Well I think the days of super being the lightning rod it once was are coming to an end. For decades it has been this sacrosanct issue you don’t touch, or if you did you made it better, not worse. Remember the surcharge fiasco with the Bolger Government? Remember that mad attempt to try and get all the parties together in some sort of super accord? The more it got talked about and touched, the more it got heated, inflamed and shambolic.

A lot of the tension around super came from the current set of retirees who by and large have been badly treated. They were promised one thing only to watch that promise eroded and abated away. The specialist savings scheme that governments set up, the whole entitlement v benefit debate. In a nutshell they got a raw deal and as such it’s been a touchy subject ever since.

But having said that, anyone under 50 has been growing up in this country under the broad belief that if you think the Government is going to be there for you in retirement, you’re a fool. It doesn’t mean they won’t but the message has at last been drilled into us that basically you need to be taking care of things yourself and if there’s something from the state by way of an entitlement then that’s a bonus, not a living wage. The growth of KiwiSaver has been proof of that.

There is also no doubt that the cost is unsustainable. It’s an easy equation. We know how many people we have and we know how old they are, therefore we know what the bills are going to be and when in the not too distant future you have two and a half people working to pay for each retiree versus the five we currently have. That’s not an equation you want to be lumped with.

In general I would draw a great deal of optimism from the poll. It shows a maturity and understanding of a complex issue. It shows perhaps that by increasing the retirement age we understand that the state should not be playing a large role in our lives, that the state as the sole provider of any sort of income is not a healthy thing, and the whole concept of retirement is changing. The ‘quit work at 65 to play bowls while the Government pays you’ days are over. If I were Key I’d grab the poll, embrace the mood and run with it.

Photo: Stock.xchng

 

Larry's Memo: May 21

Tuesday, May 21, 2013

GCSB The Inspector-General of Intelligence has looked into 88 spying cases ...

Chris' Lynchpins: The single sex school ...

Tuesday, May 21, 2013

Call me sceptical but I do wonder how serious St Bede’s College is ta ...

Mike's Editorial: Teaching profession st ...

Tuesday, May 21, 2013

Well praise the Lord, do we see some common sense at last in the teachers&r ...

Political Report: John needs to sort the ...

Tuesday, May 21, 2013

State Homie John Key's certainly been a globe trotter in his time at the to ...

Ramblings of a Redhead: The Curse of Bea ...

Monday, May 20, 2013

I sighed with a heavy heart as a read this latest article on the Daily Mail ...

A new reality TV concept

Monday, May 20, 2013

I can't keep track of all these unreal reality shows. I don't try to but th ...

Advertisement
Mike Hosking Breakfast
Advertisement
  • Urewera raids report out today

  • Rugby: Henry may face SANZAR sanction

  • Wellington better off than Canberra

  • Hockey: Black Sticks fall to Korea again

  • Waterspouts in Auckland, moderate tornado risk

  • Oklahoma tornado: Death toll nearing 100 +VIDEO

  • Concern Redcliffs home wasn't being monitored

  • Teachers to be recognised in new agreement

  • Wednesday-Twister

  • Alistair Helm: CVs don't help ...

  • Karl Anderson: truck drivers n ...

  • Steve Merczynski: the Oklahoma ...

  • Wednesday-Twister

  • Tuesday-Things People Do Not W ...

  • Friday-Budget Passion

  • Thursday-Topless Research

National Convention Centre

Do you support the Government's deal with SkyCity over the National Convention Centre

Vote Now

View Results