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Politicians, unions criticise NZ Super change

Author
Andrew McMartin,
Publish Date
Tue, 7 Mar 2017, 5:24AM

Politicians, unions criticise NZ Super change

Author
Andrew McMartin,
Publish Date
Tue, 7 Mar 2017, 5:24AM

Opposition to the Government's plan to raise the age of superannuation is mounting.

The Council of Trade Unions said the age should stay at 65.

President Richard Wagner said the plan to up the eligibility age to 67 would be too tough for people working labor intensive jobs.

"This policy is being created in a context of government that doesn't like to spend money on people whether it be health, education or retirement."

He said the plan is disappointing but not surprising considering the Government's approach to spending on social services.

READ MORE: Superannuation age to rise to 67

ACT Leader David Seymour said the plan was a cop out. He said superannuation was costing $1 billion per year and the Government needed to raise the retirement age sooner.

"People under 45 will pay more and more tax for unsustainable baby boomer superannuation before having the same right snatched away."

Green Party co-leader James Shaw described the policy as "meaningless".

"The problem that it says it's designed to solve, which is the demographic bubble of the baby boomers moving through, it does not solve."

Retirement Commissioner Diane Maxwell told Larry Williams said the plan was "fair" and "will save $4 billion a year from 2040 onwards".

"Super costs $30 million a day today. It's going to cost $98 million a day in 20 years time."

READ MORE: Joyce - Kiwis have 'stacks of time' to prepare for Super changes

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