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CHP offers saving incentive

The Christian Hertiage Party outlines its views on superannuation.

Monday, June 24th 2002, 6:53AM
New Zealand has identified the need for the Government to ensure individual savings are encouraged and protected according to Christian Heritage finance spokesperson and Bay of Plenty candidate Dick Holland.

"We are concerned for New Zealanders, that financial provision for retirement is not effective," Holland says.

"A recent survey by financial services company Sovereign shows a continuing drop in the number of New Zealanders who are saving for their retirement. The survey shows an 8% drop in the number of people putting money away from a year ago. The findings show many people are confused and unable to decide where and how to save, which simply increases anxiety.

"Last week the Labour/Alliance Cabinet approved the members of the board of Guardians of the Government’s superannuation fund, who will set the fund’s investment policies and appoint its managers. At virtually the same time, the Prime Minister Helen Clark announced the early election.

Holland suggests, "It would be interesting to know how much serious thought the other parties and MPs will give the list of names, considering that Parliament rose four days later."

In order to encourage New Zealanders to make increased provision for themselves and rely less on state funding, Holland said that, "Christian Heritage will exempt approved investment income from tax for New Zealand residents. We will also ensure that the whole tax system strengthens families and promotes social responsibility, which will also help make the notion of retirement a less anxious, more positive, shared, community experience.

This is a press release from the Christian Heritage Party

« Survey findings send strong message to future governmentAMP & Good Returns launch superannuation website »

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