Act's low key super policy

Executive Summary
New Zealand’s spending on superannuation is twice that of Australia’s. Our scheme is less well targeted and more generous. Over 50 years the cost will rise to 10% of GDP - the same as the first Labour Government’s total spending on everything.

Too many political parties make irresponsible promises to buy votes. They see the future as someone else's problem and believe they can make promises on behalf of politicians 40 years from now.

Labour’s superannuation scheme does just this. It is smoke and mirrors. It doesn’t change the fact that we have the most costly superannuation regime in the world, nor improve our chances of funding it. It will be paid for by the hard work and sweat of this generation of workers who will be in for a nasty surprise when they come to retire.