Elderly backlash against rising premiums

Bruce Sheppard, one of New Zealand's most vocal company critics, a shareholder advocate and now an associate board member of the Financial Markets Authority. Photo / Sarah Ivey

Elderly people are crying out against rising premiums at the Southern Cross annual meeting which started at 10am today at Ellerslie.

A number of members, some in the society for decades, told how they were struggling to afford premiums.

They questioned the society's multimillion dollar reserve fund, the range of procedures it pays out for and asked the board to consider a new direction.

Most outspoken was Bruce Sheppard, one of New Zealand's most vocal company critics, a shareholder advocate and now an associate board member of the Financial Markets Authority.