SUPERANNUATION
Alliance: Give superannuitants extra $20 a week through higher taxes. Try to re-establish lapsed Superannuation Accord between political parties.
Labour: Relink superannuation to wages, based on 65 per cent of average take-home wage for married couple. Create separate commercially managed fund to build up money for superannuation in future. Likely "super
tax" rate to achieve this is 8-9c, within existing tax rates.
NZ First: Relink superannuation to wage levels, based on 67.5 per cent of average take-home wage for married couple, rising to 70 per cent over time. Increase war veterans' pensions and allowances by 10 per cent. Phase in compulsory scheme, starting at 3 per cent of gross income, building to 8 per cent, with matching tax cuts. People aged 55 and older exempt from new scheme.
National: Continue to increase superannuation to match inflation but not wages. National has set up taskforce to find sustainable scheme. Key issues include payment level, age of eligibility and means testing.
Act: Phase out state-funded superannuation for 95 per cent of New Zealanders but consider findings of National's superannuation taskforce. Transitional arrangements for those nearing retirement.
Greens: Restore wage indexing to superannuation. Revive multi-party accord and entrench it in law.
Mauri Pacific: No policy available.
United: Develop "fair and sustainable" superannuation scheme, regularly review income and asset testing levels. Create new political accord on wider issues facing elderly.
Christian Heritage: Current payment levels may be unsustainable. Gradual transition to people saving for own retirement, tax incentives for super schemes.
