Whanganui Chronicle
  • Whanganui Chronicle home
  • Latest news
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Sport
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology

Locations

  • Taranaki
  • National Park
  • Whakapapa
  • Ohakune
  • Raetihi
  • Taihape
  • Marton
  • Feilding
  • Palmerston North

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • New Plymouth
  • Whanganui
  • Palmertson North
  • Levin

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Whanganui Chronicle

Savings policy splits hopefuls

Whanganui Chronicle
28 Oct, 2011 05:00 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save
    Share this article

The Labour Party's new savings policy has received a mixed response from Whanganui electorate candidates.

"Bold" and "a game-changer" is how Labour's hopeful Hamish McDouall rated it but National candidate Chester Borrows said the policy showed Labour knows it won't win the election.

For the Green Party, John Milnes expressed cautious optimism about Labour's policy, while New Zealand First's Ian Brougham said raising the superannuation age to 67 was a "kick in the guts for the hard-working people in this country".

The savings policy was released by Labour Party leader Phil Goff on Thursday. It would see the age of eligibility for New Zealand superannuation raise from 65 to 67 gradually between 2020 and 2033.

Employer contributions to KiwiSaver would also increase to 3 per cent in 2014 and 7 per cent by 2022.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Mr McDouall said the policy showed Labour had the necessary long-term vision.

"This election is about our future, not National's re-election. We need a vision that is not just three years ahead," he said.

Mr McDouall said those whose jobs involved hard physical work could still retire at 65 and receive superannuation, based on means testing.

Advertisement
Advertise with NZME.

"But the 65-year-old lawyer or accountant will not be able to keep earning $100,000 a year and pick up super."

Mr Borrows said the policy showed Labour was not serious about winning the election.

"It's so controversial, Labour wouldn't do it if they thought they had a chance of winning the elections," Mr Borrows said.

Prime Minister John Key has said the superannuation age would stay at 65 under a National-led government. Mr Borrows said the National Party recognised that government borrowing was already at a high level - but Labour's savings policy would add an extra $7 billion to that over the next four years.

Mr Borrows said forcing employers to increase KiwiSaver payments to 7 per cent showed Labour "has no real understanding of the costs businesses face".

Advertisement
Advertise with NZME.

"The vast majority of New Zealanders are employed in small businesses and, for the sake of the economy, we need them to stay strong."

Mr Milnes said New Zealanders need to have further discussions about superannuation "particularly with regards to the affordability of the scheme as it is now".

He said the Greens' policy was to keep the superannuation age at 65.

"We're concerned about the effect [raising the age to 67] would have on those in physical jobs, and particularly those with low life expectancy, such as Maori and Pacific Island people."

Mr Milnes said the party supported making KiwiSaver compulsory and raising the employer contribution.

Advertisement
Advertise with NZME.

Mr Brougham said: "It's the working people that always seem to get hit the most."

He said New Zealand First was committed to keep the superannuation age at 65.

Save
    Share this article

Latest from Whanganui Chronicle

Whanganui Chronicle

Flight school review 'relying on people's co-operation'

26 Apr 06:00 PM
Sport

Rugby redemption: Full Send sevens team aim for European glory

26 Apr 05:00 PM
Whanganui Chronicle

Anzac Day 2026: Whanganui region comes together to remember the fallen

25 Apr 02:34 AM

Sponsored

Endangered bird gets another chance

21 Apr 02:30 AM
Advertisement
Advertise with NZME.

Latest from Whanganui Chronicle

Flight school review 'relying on people's co-operation'
Whanganui Chronicle

Flight school review 'relying on people's co-operation'

The NZICPA is predicted to have a $11m loss when it closes later this year.

26 Apr 06:00 PM
Rugby redemption: Full Send sevens team aim for European glory
Sport

Rugby redemption: Full Send sevens team aim for European glory

26 Apr 05:00 PM
Anzac Day 2026: Whanganui region comes together to remember the fallen
Whanganui Chronicle

Anzac Day 2026: Whanganui region comes together to remember the fallen

25 Apr 02:34 AM


Endangered bird gets another chance
Sponsored

Endangered bird gets another chance

21 Apr 02:30 AM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Whanganui Chronicle e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Whanganui Chronicle
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Whanganui Chronicle
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • NZME Events
  • About NZME
  • NZME careers
  • Advertise with NZME
  • NZME Digital Performance Marketing
  • Book your classified ad
  • Photo sales
  • © Copyright 2026 NZME Publishing Limited
TOP