Labour lacks support for its super policy
Incoming finance minister Michael Cullen has acknowledged there is insufficient support in Parliament to pass all of Labour's superannuation policy.
Monday, December 6th 1999, 12:00AM
There will be support to increase the level of New Zealand Superannuation to 65 per cent of the average wage, however Labour does not have the numbers to move the scheme to a partially funded base.
Before the election Alliance leader Jim Anderton said he would only support the Labour policy after it has been "subjected to close scrutiny by experts in the field."
"We may find there are better ways of doing things," he said.
Dr Cullen admits without the Alliance's support he does not have a Parliamentary majority for the changes.
Super is "high on list to talk to the Alliance about," he says.
"We'll have further discussions about that."
Meanwhile, Labour's plans to scrap the Super 2000 Taskforce are attracting criticism.
The latest to join the barrage is the Association of Superannuation Funds of New Zealand.
Executive director David Stevens has written strong letters to Prime Minister-elect Helen Clark and her deputy, Jim Anderton, urging that the taskforce be allowed to finish its job.
See press release here."Disbanding the Super 2000 Taskforce half-way through the process negates the benefit of the research and work completed to-date and ignores the pleas of people concerned about the retirement security," Stevens says.
"The work the Super 2000 Taskforce is doing in raising the issues and informing the public can only lead to a more informed debate on Retirement Savings issues and a greater understanding by New Zealanders."
The taskforce itself has been keeping quiet, however in its latest newsletter chair Angela Foulkes argues for a stronger body.
Instead of reporting to the Government, Foulkes says the taskforce's governance structure should be changed so it reports to Parliament alone.
She says the Government has not tried to influence the taskforce, however there is a perception that the group is not totally independent.
"In short, there is a step beyond permission to be frank with our views that is required if all political parties are to have faith in the integrity and independence if the Taskforce," she says.
Foulkes says such changes would allow the taskforce the room to communicate freely with the public and political parties.
Click here to read a full copy of the Taskforce's report on its first year.| « Plea for cross-party consensus on super | AMP & Good Returns launch superannuation website » |
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