12 April 2011

Expert Panel to debate the adequacy of New Zealand Super at Age Concern conference

Whether or not current superannuation levels are adequate will be discussed during a panel debate at Age Concern's annual conference in Wellington today.

National President, Liz Baxendine, says NZS only gives an annual income in the hand of around $13,500-$17,600 per person.

An increase allowed under current legislation could give beneficiaries an extra $25 to $30 per week after tax.

Mrs Baxendine says "although Age Concern is sensitive to the current economic climate, many older people believe strongly that an increase in NZS is needed."

Today's debate will showcase a variety of view points, from a Treasury deputy chief executive to an NZS recipient.

One panellist believes the increasing trend of falling home ownership in New Zealand could present serious poverty problems in the future.

"Mortgage-free homes have been critical to preventing many older New Zealanders from dipping below the poverty threshold," says Dr Charles Waldegrave, a researcher at The Family Centre.

Dr Waldegrave is currently overseas but made a video presentation of his speech for the conference.

In his video, he says "poverty among older people will increase unless NZS keeps pace and home ownership levels do not drop."

Mrs Baxendine says the information gathered from the panel will be used to help review Age Concern policies in the future.

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