18 October 2012

National Party Rift Exposed by Superannuation Inquiry

A Government ordered inquiry into the sustainability of New Zealand Superannuation is a warning shot to all people approaching retirement age, says New Zealand First.

Rt Hon Winston Peters says Government Minister Craig Foss has requested the Retirement Commission to look into the affordability of our superannuation scheme despite it only costing the country 3.7 per cent of its GDP.

“The Prime Minister says NZ Super is affordable and insisted he knew nothing about the review. Clearly his Minister has gone behind his back in seeking the inquiry.

“This is evidence of a rift within the National Party with some of its MPs and Ministers falling for the sucker’s argument put up by a superannuation lobby group that NZ Super is unaffordable.”

Mr Peters says all New Zealanders approaching their retirement years should be seriously concerned about this secretive Government inquiry.

“They will be the ones hurt as they will be unable to save enough for their retirement when the Government unnecessarily hikes the entitlement age for NZ Super.

“New Zealand First is committed to ensuring the age of entitlement remains at 65,” says Mr Peters.

ENDS

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