Wednesday 5 November

Progressive step to enhance security in retirement

The coalition government's decision to encourage public sector employees to save more for their retirement through an employer-supported retirement savings scheme is "another progressive step to enhance peoples' financial security in retirement," Progressive Party leader, Jim Anderton, said today.

"It is important that the government, as an employer, sets a good example in rewarding those in the productive workforce to get into the habit of taking steps where they can to improve their financial security in retirement," Jim Anderton said.

New Zealand has run current account deficits in each and every year for over quarter of a century which means that New Zealand needs to both export more high quality goods and services and that New Zealanders need to save more than they have been if they can.

The Progressive Party is also committed to the government providing all people aged over 65 with government-funded universal superannuation and believes the government itself should save now to ensure this policy can be afforded into the future.

This contrasts with National, whose leader Don Brash has indicated he would like to raise the age of eligibility for New Zealand superannuation. National would also destroy the coalition government's new Superannuation Fund which is the Labour Progressive government's way of saving now to help pay for known government pension liabilities in future years and for a future generation of New Zealanders.

www.progressive.org.nz

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