Blair scores politicians poorly

The Government appointed Retirement Commissioner criticises politicans handling of the superannuation issue.

Tuesday, December 1st 1998, 12:00AM

If the Office of the Retirement Commissioner's annual report, which was released yesterday, is a score card of politicans' performance on superannuation they probably all would have failed.
Colin Blair says in the past year no real progress has been made on superannuation.
"I think we probably have gone backwards," Blair says.
The report, which is the office's fourth, is forthright and puts pressure on politicans to sort this issue out.
Blair says the public is wanting political consensus on superannuation, yet the opposite is happening.

"From the six political groups represented in parliament, the public receive six or more quite different messages," he says.
The problem has been exacerbated by the introduction of MMP as some of the parties see superannuation as an issue where they can differentiate themselves.
Blair is disappointed that there has been "a lack of cohesive and transparent political effort to provide the public with a clear and consistent signals about the medium and long term future of New Zealand superannuation."
He says efforts to get an accord on superannuation since the retirement savings referendum last year have been unsuccessful.
Blair says it is not his job to promote one solution above others, rather the office's role is to provide information and encourage progress.
The annual report also addresses other issues including taxation, education and the impacts of the disclosure legislation on employer sponsored schemes.
Blair is "disappointed" the TOLIS tax credit legisation was not passed.
"The system would not have been a panacea for all of the tax issues related to savings and investments. However it would have delivered the benefits of recently reduced tax rates to a deserving group - that is, those on lower tax rates who have made the decision to save."
"As long as we have progressive tax rates in New Zealand, this issue will not go away. I trust that both political and other opponents of the tax credit regime are able to come up with an alternative and acceptable solution," he says.
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