Gareth Morgan’s party announced:
all those citizens over 65 years of age – $200 each per week. In addition elders who satisfy a means test will be able to top up to the current NZ Superannuation level by a further $7,500 pa. We will index the top-up to elders’ costs not to average incomes.
This is actually a huge decrease for those on NZ Super. It is not a UBI but a stealth means test.
At present everyone aged 65 gets around $15,000 a year. Morgan is saying he will cut it to $10,000 a year for those who have income of over $50,000 a year.
Personally I support means testing NZ Superannuation, but they are hiding that this is what the impact of their policy is.
The other significant thing is that they are saying they will index the top-up to inflation not average incomes. This means that over time the level of income for retired people will be less than under NZ Super.
Now again I actually support this, but do people realise that this so called UBI is actually a means test and a reduction in the floor?