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PR: Certainty Of Super Level Vital For Workers Says CTU

The Council of Trade Unions welcomes the objectives that lie behind the pre- funding of NZ Superannuation.

Wednesday, October 11th 2000, 12:00AM

by Philip Macalister

The Council of Trade Unions welcomes the objectives that lie behind the pre- funding of NZ Superannuation, CTU secretary Paul Goulter said today.

“Certainty of base level of Universal Super in retirement is a vital issue for workers,” he said.

“Pre-funding is preferable to reducing the level of superannuation or significantly increasing taxes to pay for superannuation.”

Paul Goulter said however, that the CTU would be concerned if the level of funding required to build up the fund diverts resources from important social spending.

“The CTU will study the details carefully and will take a keen interest in the proposed legislation establishing the fund,” he said.

« PR: ACT Reserves Judgement On Super ProposalAMP & Good Returns launch superannuation website »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build ▼4.94 - - -
AIA - Go Home Loans ▼7.49 5.99 5.69 5.69
ANZ ▼7.39 ▼6.39 ▼6.19 ▼6.19
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BNZ - Mortgage One ▼7.54 - - -
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CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - ▼5.69 - -
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Co-operative Bank - Owner Occ ▼6.95 ▼5.79 ▼5.59 5.69
Co-operative Bank - Standard ▼6.95 ▼6.29 ▼6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
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Heartland Bank - Reverse Mortgage - - - -
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ICBC 7.49 5.99 5.65 5.59
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Kainga Ora - First Home Buyer Special - - - -
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Kiwibank ▼7.25 6.89 6.59 6.49
Kiwibank - Offset ▼7.25 - - -
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SBS Construction lending for FHB - - - -
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SBS FirstHome Combo ▼4.94 5.15 - -
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SBS Unwind reverse equity 9.75 - - -
TSB Bank ▼8.19 6.49 6.49 6.49
TSB Special ▼7.39 5.69 5.69 5.69
Unity 7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
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Westpac Special - ▼5.79 ▼5.49 ▼5.59
Median 7.49 5.99 5.79 5.69

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