Support for new savings scheme
Use these links to find out what people are saying about the Government's savings scheme for civil servants.
Super move, Mr Mallard!
“The Greens have been pushing the government for several years to its money where its mouth is when it comes to encouraging people to save for their retirement," Green Co-leader Rod Donald said.
“Today’s announcement is one small step in the right direction but it’s still a long way from the level of support that used to be provided in the days of the Government Superannuation Fund.
“We can only hope that State Services Minister, Trevor Mallard will be able to persuade Finance Minister Michael Cullen to lift the level of subsidy above the miserly three per cent he’s currently offering.
“It’s also a shame that only those public servants earning more than $60,000 will get a six per cent tax incentive on the government subsidy, while middle and low income state employees will miss out.”
This is a press release from the Green Party
Commissioner supports Govt’s workplace saving initiative
“As a major employer I'm very pleased to see the government taking a lead by providing their staff with access to a retirement savings scheme,” Crossan says.
"Workplace saving is one of the most effective ways to prepare for retirement, as savings are taken directly out of your pay before you have a chance to spend. Schemes where the employer makes a contribution are definitely worth serious consideration,” she says.
“For state sector employees entitled to join the scheme next year, this is very good news,” Crossan says. “In effect, the scheme is like a pay rise.”
“It’s easy to put long-term saving off. I encourage each person eligible for the scheme to consider this option as soon as possible.”
“It is very encouraging to see such a positive approach to workplace saving. Employers and unions working together like this for the benefit of employees could also be a good model for the private sector,” says the Retirement Commissioner.
“Most employees in the private sector do not have access to a scheme. I hope to see other employers taking the government’s lead and provide staff with access to retirement savings schemes,” says the Retirement Commissioner.
This is a press release from the Retirement Commissioner
Private sector should follow government lead on retirement savings
He said the Government’s announcement that it is introducing a new retirement savings scheme for core public service employees is good news for workers.
“The unions involved can take pride in re-establishing a superannuation scheme in the state sector,” he said.
The CTU has worked closely with unions in the public sector on retirement savings issues and was represented on the working party which developed the proposals for this new scheme.
Other recent changes to prospectus requirements and tax on employer contributions also are moving in the right direction, Ross Wilson said.
This is a press release from the CTU
The Green Party is congratulating the Government for taking the lead in providing employer-subsidised superannuation for public servants.
The Retirement Commissioner Diana Crossan is supportive of the government’s superannuation savings scheme for state sector employees.
“The Government’s lead on retirement savings should encourage employers in the private sector to make contributions to retirement savings for workers,” Council of Trade Unions president Ross Wilson says.
