Retirement Commissioner Colin Blair urges the public to take an interest in the Government’s superannuation policy proposal announced today by the Minister of Finance, Michael Cullen.
"The consequences of retirement income policy decisions have long-term implications for those planning well ahead for retirement. So it is important that all New Zealanders take an interest in today’s announcement, and actively listen to and engage in the debate."
"I commend the Government for putting its views to the test and allowing debate and discussion on its proposal." says Mr Blair.
Robust debate will help the public understand the proposal’s merits in terms of providing long-term certainty for future generations in retirement.
Mr Blair stresses it is important that New Zealanders understand the proposal to pre-fund future New Zealand Superannuation provision will not change the need for people to assess their own financial plans for retirement.
"The proposal only sets out a framework for enabling the long-term continuation of New Zealand Superannuation at its current level – that is, a basic retirement income. Those people who think that they will want more than $225 a week to live on in retirement will need to continue making their own efforts to ensure their expectations are met."
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