Peters wants superannuation to be even less sustainable

June 18th, 2012 at 10:00 am by David Farrar

This is one of the problems of MMP. Smaller parties don’t have to worry about whether their policies are in the national interest. They know they will never be PM. So they are incentivised to push policies that will benefit a small section of New Zealanders (to get them over 5%), even if it fucks the country over.

On Q+A, Winston said:

GREG Lets talk about the contribution. 66% to 68%. Is that a bottom line for you?

WINSTON Oh, look, it is a bottom line, and thats why we had the law changed to 66, because you can recall National took it down to 60%. 

So the bottom line for NZ First support is increasing from 66% of the average wage to 68%. This is fiscal insanity. So that means a Government which includes NZ First will actually blow out the costs of even quicker than the current projections.

We actually have the most generous public superannuation scheme in the world. But for some greedy people it is not enough. Winston is a fine example himself. He gets a massive salary as an MP, and gets non means tested superannuation – and he is now saying a bottom line will be that his superannuation payments get increased even higher.

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9 Responses to “Peters wants superannuation to be even less sustainable”

  1. Redbaiter (7,852 comments) says:

    “This is one of the problems of MMP.”

    Yep right, and just one of them. So why didn’t National take a strong stand during the last referendum on MMP?

    I’ll tell you.

    They’re useless.

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  2. Pete George (23,165 comments) says:

    He is also inconsistent on other things. He lauds universal super – except for those Chinese parents, and any other group that suits his vote building amongst the self interested.

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  3. Shazzadude (516 comments) says:

    “But for some greedy people it is not enough. Winston is a fine example himself. He gets a massive salary as an MP, and gets non means tested superannuation – and he is now saying a bottom line will be that his superannuation payments get increased even higher.”

    This is a rubbish argument-is John Key greedy because he implemented tax cuts for the highest earners, of whom he is one?

    [DPF: Tax cuts are getting your own money back. That is different to forcing people to pay more of their own money to give to you]

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  4. speters (108 comments) says:

    Can’t understand why Super isn’t means-tested

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  5. Viking2 (11,220 comments) says:

    Pete George (13,477) Says:
    June 18th, 2012 at 11:03 am

    He is also inconsistent on other things. He lauds universal super – except for those Chinese parents, and any other group that suits his vote building amongst the self interested.

    Pete that just slut talk from u.

    Problem here is that so many of u are so blue eyed and irrational that you don’t bother to analyze his argument.
    Peters is quite correct about what he has said in relation to immigrants getting free rides and it applies to those that go to the islands and India and adopt other family members and bring them in such as the Indians and Samoans are doing. They then automatically are entitled to all our freebies such as unemployment, student loans medical and everything else.
    Its the biggest rip off of Kiwi taxpayers going. Worse than beneficiaries who are born here of Kiwi parents. who are entitled to some consideration(assuming that we allow this and as you know I don’t necessarily).

    You guys need to get out more and just see what is going on.

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  6. hj (6,608 comments) says:

    If national is going to start playing tough love then how about following the advice of the IMF
    http://www.interest.co.nz/news/52737/imf-recommends-govt-broaden-capital-gains-tax-base-and-introduce-land-tax-your-view

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  7. hj (6,608 comments) says:

    “Sweden’s system is set up as a “pay as you go” model of social security. What current retirees get is a direct function of what current employees pay. If during a recession the revenue goes down, then the social security payments go down. You can actually have a case where your retirement pension goes down within a given year rather than up, if the country is in recession. In essence, their social security costs are indexed to GDP. They can never run a deficit in the program. I suppose they could raise the tax, but there seems to be little appetite for raising taxes.

    Read more: http://articles.businessinsider.com/2012-03-24/markets/31232606_1_exchange-rate-mechanism-interest-rates-currency/2#ixzz1y6QGBZeY

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  8. Paulus (2,544 comments) says:

    Overseas people collecting NZ Super is of minor concern, but good PR for Winston.
    Remember they have to have lived here and paid such as GST etc for 10 years first.
    They are not new immigrants.

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  9. ross69 (3,652 comments) says:

    “They know they will never be PM. So they are incentivised to push policies that will benefit a small section of New Zealanders (to get them over 5%), even if it fucks the country over.”

    If they are never going to be PM, then they will never get the opportunity to fuck the country over. What was your complaint again?

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