National’s flip flop on superannuation will hit a generation of younger workers and unfairly penalise those who already struggle to work to 65, says Labour Leader Andrew Little.
“This decision hits the generation that has had to pay for their tertiary education and are missing out on buying their own home because of the housing crisis. Now they will have to wait two years longer to get their superannuation.
“I have spent 20 years of my life working with people who struggle to get to 65 now before they retire because of the physical nature of their work; that hasn’t changed. Now Bill English wants them to wait another two years. Life expectancy may have changed, but bodies still wear out at the same rate, they always have done. It’s not right, the case does not stack up.
“This is about giving the appearance of doing something when it’s really nothing at all. It’s totally political. They have even pushed out legislating for this until next year and it doesn’t take effect until 2040.
“If this was about affordability, there’s one thing Bill English could do and give people a sense of comfort and that’s resume contributions to the New Zealand Superannuation Fund which is now $20 billion short thanks to National’s freeze.
“This is a ham fisted, clumsy and a completely botched piece of decision-making which is the hallmark of Bill English’s leadership.
“Labour’s policy is very clear. There will be no change. A Labour Government I lead will keep the age of entitlement at 65 and we will re-start contributions to the New Zealand Superannuation Fund,” says Andrew Little.