Paul Rea, chair of New Zealand Seniors Party believes New Zealand’s pension scheme should be overhauled.
When you look back at what we were promised and realise what we actually receive, what fools we were! The National Government under Rob Muldoon in 1975 promised us a free pension to get re-elected and told us it would increase to 80% of the average wage after tax, so why are we only receiving 33%?
Politicians say we are getting 66% but this is as a couple not as an individual. It’s wonderful how facts can be twisted to suit certain agendas. All your working life you are taxed as an individual but when you retire suddenly you become a couple.
Had Muldoon not cancelled Labours original Super scheme, New Zealand would now have billions of dollars in the super fund and be the envy of other countries. The Millennium generation would still enjoy the perks our generation had like free education, low interest property loans and a lifestyle second to none.
Bill English has not learnt from the mistakes Muldoon made, ie Kiwi Saver should be compulsory. NZSP would make it compulsory, not a voluntary scheme as at present. We would also propose a complete overhaul of the current pension system to a pro-rata scheme making it fairer to all.
With the General Election in September one would hope New Zealanders have learnt from the past and will no longer believe all the promises made by our politicians seeking election. Remember, sometimes if it sounds too good to be true – it probably is.