About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, June 28th, 8:47AM
rss
Latest Headlines

Super fund cripples elderly care

Senior citizens and the country's elderly will be the big losers with the Government putting aside $600 million into a superfund this year, National's senior citizens spokesperson Lynda Scott says.

Tuesday, July 24th 2001, 9:30PM

Senior citizens and the country's elderly will be the big losers with the Government putting aside $600 million into a superfund this year, $1.2 billion next year and $2 billion the following year, National's Senior Citizens spokesperson Lynda Scott said today.

"If you are putting money into the superfund you can't spend the same money on other needs like health, education and growing the economy. We've already seen the Government announcing it would cut funding to the elderly last week by chopping $8 million from geriatric care.

"Health Minister Annette King avoided questions in parliament today about why money is being taken from care for the elderly for the superfund.

"This year the health system has had the lowest increase in funding since 1993 and the reason is because the Government's put hundreds of millions of dollars towards super.

"National has guaranteed we will not touch the amount of superannuation the country's older people are entitled to. We will support that part of the Superannuation Bill.

"For the next 20 years this Government is committing money to the fund that should instead be available to social and health services. This is a lose lose situation for the elderly - they are the ones who will suffer.

"Health boards around the country are already signalling cuts to services. We've seen the crowded corridors at Auckland hospital, heard of the terminally ill man who waited hours at Hutt Valley hospital before giving up and going home, and seen reports of a 'haemorrhaging' health system lacking staff and unable to provide services.

"At a time when our frail elderly need good health services the most, they will be suffering from health cuts. This superfund is designed to look after the babyboomers and no one else but is taking money from vital services we need in the community now," Dr Scott said.

Lynda Scott is National's senior citizens spokesperson

« Superannuation Time Bomb Still TickingAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Code changes likely by year's end
    “Is there any update on when the Code Committee will issue its paper? We're almost at the end of June. Second, why should...”
    2 days ago by Murray Weatherston
  • Kepa's fees changes for mortgage advisers worrying move
    “As a Kepa member I think this is a smart move and it was Heather Royle's suggestion to raise fees for non Kepa insurance...”
    5 days ago by Mellow
  • Mortgage lending raises red flag
    “Everyone knows the problem but will anyone do something. RBNZ should introduce mrasures on priority and do not follow...”
    5 days ago by Simth
  • [Comment] Advice matters
    “Well said Ed. Could it be that the industry is on the brink of positive change for positive outcomes to the benefit of all...”
    6 days ago by Bruce Cortesi
  • Commissions not driving adviser behaviour
    “A very good summary David. And as usual Graeme, another very good response and good points, to which I agree with. To...”
    6 days ago by Referee
Subscribe Now

News and information about KiwiSaver

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 4.75 4.89
ASB Bank Special - 4.25 4.19 4.39
BankDirect 5.55 4.69 4.75 4.89
BankDirect Special - 4.25 4.19 4.39
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.19 ▲4.49
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.49
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.15 -
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 4.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 ▲4.19 4.39
Perpetual Trust 7.70 - - -
Resimac 5.34 4.95 4.99 5.05
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.19 4.65
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.19 4.39
The Co-operative Bank 5.45 4.25 4.29 4.49
TSB Bank 5.54 4.75 4.75 4.99
TSB Special - 4.25 4.19 4.59
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.75 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.75 4.69 4.75 4.89

Last updated: 28 June 2016 8:41am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com