No protection For Savers

Obviously the Retirement Commissioner is not in the same category of many New Zealanders when she states that unless the National Superannuation eligibility age is raised to 67 years superannuitants will be begging in the streets because we are a nation of poor savers. Pardon me Ms Crossan but if it were not for NS, many who did save towards their retirement would be begging in the streets because there is no protection for those who do save.

Many older people are now totally reliant on NS to live whilst those who ran the many failed finance houses are still living in luxury on the savings of their many investors. Why would anyone save for their retirement when successive governments have protected the very people who have ripped off the frugal people who tried so hard to provide for their after work years by allowing those predators to keep their ill gotten gains.

Would the Retirement Commissioner please tell me how anyone can save on the unemployment benefit where so many workers end up when their jobs are the first casualty of the monetary system. The Employers first step in a recession is to scale down the workforce so that their own living standard is not affected.
It is so easy to sit in an office in The Terrace in Wellington with a lovely big salary and criticise while so many are affected by those who trusted their so called financial advisors.

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