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  1. #1
    Join Date
    Sep 2004
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    Hastings
    Posts
    14,879

    Default

    Moderator Note

    Posts moved to this new thread, from here.
    Last edited by Perry; 13-12-2010 at 11:13 AM. Reason: Date shuffling to change posts order

  2. #2
    Join Date
    Jun 2007
    Location
    Wellington
    Posts
    1,237

    Default NZ Super - Sustainable?

    The current state sponsored super is not sustainable, regardless of which side of the ethical / social debate you stand.

    The Prime Minister either needs to:
    A) Raise taxes and put more into the Cullen fund (National won't do this)
    B) Raise the age of retirement steadily up to 75 over the next 40 years (losing the old age vote for a political generation... that enough of a swing to lose every election... so neither side have the bottle to do that).
    C) Lower taxes and immigration barriers to increase the young tax paying working population significantly (neither seems up for this).
    D) Do nothing, hide head in sand, and hope its the other lot in power when the masses finally realise that the last chance to act was 20 years ago (in other words much like the current approach to Global Warming)

    Conclusion: It is a train wreck in slow motion. Assume the State super will be zero, plan a future for your self, take action for yourself.


  3. #3
    Join Date
    Jun 2004
    Posts
    10,404

    Default

    Quite true.
    A) valid debate on sensibility of borrowing now (current A/C deficit) to 'save' for the future
    B) big step over the 67 that has been touted, either way Key has painted himself into a bit of a corner
    D) preferred option it seems - they won't be in power when it finally hits the fan so won't be held accountable
    Last edited by Perry; 12-12-2010 at 09:07 PM.

  4. #4
    Join Date
    May 2006
    Location
    Mordor
    Posts
    1,048

    Default

    Quote Originally Posted by Robin McCandless View Post
    The current state sponsored super is not sustainable, regardless of which side of the ethical / social debate you stand.

    The Prime Minister either needs to:
    A) Raise taxes and put more into the Cullen fund (National won't do this)
    B) Raise the age of retirement steadily up to 75 over the next 40 years (losing the old age vote for a political generation... that enough of a swing to lose every election... so neither side have the bottle to do that).
    C) Lower taxes and immigration barriers to increase the young tax paying working population significantly (neither seems up for this).
    D) Do nothing, hide head in sand, and hope its the other lot in power when the masses finally realise that the last chance to act was 20 years ago (in other words much like the current approach to Global Warming)

    Conclusion: It is a train wreck in slow motion. Assume the State super will be zero, plan a future for your self, take action for yourself.
    Agreed in full.

  5. #5
    Join Date
    Jun 2009
    Posts
    310

    Default

    It won't happen udner this government which has foolishly and irresponsibly shut down discussion on the matter.

  6. #6
    Join Date
    Jun 2004
    Posts
    10,404

    Default

    Yes - it is a shame these things can't be debated in an adult manner.
    Last edited by Perry; 13-12-2010 at 09:16 AM.

  7. #7
    Join Date
    Oct 2003
    Posts
    3,578

    Default

    Ruling out discussions completely while he is PM was a mistake for Key and I think it is a signal that he doesn't have long term asperations.

    He should have said we will discuss but not this term, much like he did with SOE's.
    Last edited by Perry; 13-12-2010 at 09:16 AM.

  8. #8
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    Quote Originally Posted by Wayne View Post
    Muldoon took it and put it into the consolidated account didn't he?
    This is the reason people aren't in Kiwisaver, which is at least a part solution to the problem. I can't count the number of times I have been told "There is no way I'm going into Kiwisaver, the government will just take it one day"

    Which of course is not the case - the worst they can do is stop the flow of free money into kiwisaver accounts.

    It does annoy me that when I get to retirement, it is very likely the fact I have kiwisaver (and other income streams) will be taken into account and those who have spent everything they earned or lived on benefits will be the only ones getting govt super .

    I am not prepared to live on $327 pw in any case, even not paying rent I would be budgeting hard to make it stretch, but it would be a nice top-up .

  9. #9
    Join Date
    Jun 2004
    Posts
    10,404

    Default

    I can't see how the Govt can take KS away from you - it is in your name. To that extent they could take away any investment you had (nationalise private savings).

    The other argument of saving to be means tested while others spend and get the state to pay has been around forever (my mother-in-law used it many times). I would rather save and have a better life in the future than wait for the state and live a subsistance life.

    And, yes, if I am not means tested then the extra would be a nice bonus and I could justify every penny
    Last edited by Perry; 13-12-2010 at 11:08 AM.

  10. #10
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,879

    Default

    Quote Originally Posted by Tan View Post
    It does annoy me that when I get to retirement, it is very likely the fact I have kiwisaver (and other income streams) will be taken into account and those who have spent everything they earned or lived on benefits will be the only ones getting govt super .
    As Wayne observes, it's just a socio-economic
    injustice, driven by the government-of-the-day
    ideology. Same goes for things like the 'Mayor's
    Relief Fund,' after times of civil emergency.

    A door-knocker comes, after the flood waters
    have abated and the conversation should/could/
    might go something like this:

    1) Did you sacrifice or go without something so
    you could pay for an insurance premium, to
    cover yourself against disasters like this?

    2) Or did you spend every available cent on
    boozin', baccy and partying?

    If (2) applies, then I can help you via the fund.

    If (1) applies, then the fund can't help you, as
    it's reserved for the 'poor' people.

    Happened to a friend of mine!

    Well, not those exact words were spoken,
    but that's what my friend said was the gist
    of it. She was one unhappy chappess.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

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