Prime Minister Bill English, right, and Finance Minister Steven Joyce, announcing the government is to raise the age for national superannuation to 67 by 2040. Photo/NZME
Prime Minister Bill English, right, and Finance Minister Steven Joyce, announcing the government is to raise the age for national superannuation to 67 by 2040. Photo/NZME
I live in a home of two halves.
On my side of the home, I can look forward to retiring at the sprightly age of 65, safe in the knowledge that taxpayers will fund my intended lifestyle of elderly excess.
On my girlfriend's side of the home, retirement looks significantlymore distant.
That's because the Government's plan to hike the retirement age from 65 to 67 in 20 years' time has been aimed at people born since June 1972.
It turns out that I was born before that date, and that my better half was born after it.
Is it fair that one of us should be penalised, but not the other?
Obviously, the line needs to be drawn somewhere, but it seems that the line is at best completely arbitrary and at worst an example of political cynicism.
It's cynical because deferring the date by 20 years allows National-friendly baby boomers to pass safely into retirement.
It's also cynical because the government has fuelled the looming crisis by cutting funding to the NZ Superannuation Fund.
Remember that?
The fund was set up in 2001 under a Labour government with the intention of building up a store of cash to help pay for a completely foreseeable superannuation crisis.
National stopped paying into the fund in 2009 - and now they're grizzling about how much it's going to cost to pay for superannuation in future.
Pushing out the retirement age is necessary - there's no way around that now. Strong measures must be taken to ensure we can continue to keep a growing population of elderly in the lifestyles they deserve.
But deferring the move for 20 years is just plain gutless.
Bill English should harden up and introduce the new rule immediately after the election.
We need to face this problem now rather than forcing it on to the next generation.
Even if that makes life tougher for some younger people.
