The parties super policies
A quick reference table to what the politcal parties are saying about super.
Wednesday, September 29th 2004, 8:08AM
1. Public provision ("New Zealand Superannuation") |
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Act |
Greens |
Labour |
National |
|
1.1. Today's pensioners |
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Age |
65/66 |
65 |
65 |
65 |
% NAW married |
65% (review) |
65% |
65% |
65% |
% NAW single |
42% (review) |
42% |
42% |
42% |
Linkage |
NAW |
NAW |
NAW |
NAW |
Income test |
N |
N |
N |
N |
Asset test |
N |
N |
N |
N |
NZ Super Fund? |
N (wind up) |
N (wind up) |
Y |
N? |
1.2. Tomorrow's pensioners (say, 2025 or after) |
"Policy to come'" |
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Age |
Increase 67/68 |
65 |
65 (Poss incr) |
Poss increase |
% NAW married |
Reducing |
65% |
65% |
65% |
% NAW single |
No view |
42% (60% x 65%) |
42% |
42% |
Linkage |
CPI |
NAW |
NAW |
NAW |
Income test |
Y? revisit |
N |
N |
N |
Asset test |
Y? revisit |
N |
N |
N |
NZ Super Fund? |
N (wind up) |
N (wind up) |
Y |
N/Y ? |
2. Private provision for retirement |
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Compulsory? |
N |
N |
N (employer?) |
N |
Tax incentives? |
N (tax cuts) |
Y - employer plan |
N (review) |
N (open mind) |
Employer based |
Vol |
Y (tax incentives) |
Y |
Vol |
3. Review process |
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Support Ret. Com? |
N |
Y |
Y |
Y |
Periodic Reports? |
If honesty |
Y (shorten time) |
N |
Y |
4. Superannuation philosophy |
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Slogan |
Prosperity & truth, Economic growth, Cut taxes, Indiv. responsibility |
NZ Super is bread & butter, workplace saving is the jam with the government providing the sweetener |
Fairness, security, certainty, "Guarantee" outcomes |
Reward behaviour, focus on economic growth, encourage private sector |
1. Public provision ("New Zealand Superannuation") |
|||
NZ First |
Progressive |
United |
|
1.1. Today's pensioners |
|||
Age |
65 |
65 |
65 |
% NAW married |
65% up to 72.5% |
65% up to 72.5% |
65% (min) |
% NAW single |
Up to 45% |
42% |
42% (min) |
Linkage |
NAW |
NAW |
NAW |
Income test |
N |
N |
N |
Asset test |
N |
N |
N |
NZ Super Fund? |
Y but . . . |
Y (now) |
Y |
1.2. Tomorrow's pensioners (say, 2025 or after) |
|||
Age |
65 |
65 |
Consensus |
% NAW married |
72.5% |
72.5% |
65% (min) |
% NAW single |
45% |
45.0% |
42% (min) |
Linkage |
NAW |
NAW |
NAW |
Income test |
N -"access" test* |
N |
N |
Asset test |
N? |
N |
N |
NZ Super Fund? |
Indiv a/cs |
Y (now) |
Y |
2. Private provision for retirement |
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Compulsory? |
Y (Indiv a/cs)* |
N |
N |
Tax incentives? |
Y |
N (open mind) |
Y |
Employer based |
Y (compulsory) |
Vol |
Vol (portable) |
3. Review process |
|||
Support Ret. Com? |
Y |
Y |
Y |
Periodic Reports? |
Y (if useful) |
Y/N |
Y |
4. Superannuation philosophy |
|||
Slogan |
Improve savings, indiv accounts, "yes we can" |
Elderly have financial security, certainty and dignity, universal, transparency "consensus" |
Certainty, security, encourage private, NZ consensus |
« National hints at keeping NZ Superannuation Fund | Workplace Savings –Hitting the headlines and hidden in the detail » |
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