Does Cullen Plan To Raise The Age For Super?
Monday, April 8th 2002, 10:50AM
Following the release of the Treasury working paper 'The Economics of Population Ageing' Labour needs to say whether it will raise the retirement age, National Superannuation Spokesperson Gerry Brownlee says.
"Finance Minister Michael Cullen needs to make it clear to New Zealanders whether a Labour Government would increase the entitlement age for superannuation from 65 to 68 or 70 years.
"National will not raise the retirement age within the foreseeable future. Given that this report, which Dr Cullen commissioned, is now in the public arena he needs to say whether Labour will entertain raising the retirement age.
"We know Dr Cullen's super scheme has a marginal effect on the future cost of pensions and a huge draw-down on current resources with a cost of $2 billion a year. He is quite clearly tempted to improve the outlook by raising the age entitlement," Brownlee says.
This is a press release from National's superannuation spokesman Gerry Brownlee.
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