Peters: make super more generous

Winston Peters: the future of super is A-OK.

Other parties may be talking about holding the line on superannuation or pushing up the age of retirement.

But on yesterday's TVNZ Q+A programme, NZ First leader Winston Peters called for a more generous pension scheme.

He said the bottom-line for an NZ First coalition deal would be increasing the rate of super from 66% of the average wage to 68%.

The NZ First leader also said the age of retirement should stay at 65 - Labour has called for a phased increase to 67 from 2020.

Later, at his party's annual conference, Mr Peters offered a thinly-detailed plan that super could be funded at its present age level if older immigrants were denied a pension.

But he hinted his party's position could shift.

“The fact is that nobody has made out a case for changing the age at this point in time,” Mr Peters said.

“Age 65 is a date or time from which we’re not going to move until we see some fundamental facts as to why we should.

"No one can tell you the demographics of society 35, 50 years from now. They claim to, but that’s not correct.”

On TV3's The Nation programme on Saturday, Prime Minister John Key had challenged Mr Peters to rule out a coalition deal with Labour after the 2014 election.

The NZ First leader would not rule out a coalition deal with the Labour or the Greens.

While Labour had pledged to raise the age of super after 2020, "there are three elections before that”, Mr Peters said.

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2 Comments & Questions

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More should have been said about the 22,000 persons from overseas being paid more than $400m a year in superannuation and are only required to be here 10yrs with no financial imput under the associated families scheme

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I agree, I actually have parents-in-law, that fall into this catergory, they have never worked year and probably never will, given they are quite old. Under their immigration scheme, us kids should be supporting them...not the government.

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