Opportunities Party calls for radical overhaul of superannuation scheme

Author
Newstalk ZB Staff ,
Publish Date
Tue, 28 Mar 2017, 12:22PM
The Opportunities Party has pensioners in its sights calling for a radical overhaul of the superannuation scheme. (Mark Mitchell)
The Opportunities Party has pensioners in its sights calling for a radical overhaul of the superannuation scheme. (Mark Mitchell)

Opportunities Party calls for radical overhaul of superannuation scheme

Author
Newstalk ZB Staff ,
Publish Date
Tue, 28 Mar 2017, 12:22PM

The Opportunities Party has pensioners in its sights calling for a radical overhaul of the superannuation scheme.

Party founder Gareth Morgan has concerns about how the benefit is allocated, saying people like him, who're well off, don't need the $40,000 a year they're entitled to receive.

He said the trouble with New Zealand Super is it's the highest of all the benefits - its level is way too high, and should be cut in half and taken away from people like him.

"If people need it, sure, then they get their top up- but it's targeted, it's means tested and then that money which is about three billion or about a quarter of New Zealand's super gets spent on the most vulnerable."