At the end of each calendar year, we list what we see as the dominant New Zealand retirement income issues. … More 2017: The Dominant retirement income issues for New Zealand
The editor is taking a rest for a 4 week period. Kaspanz refreshes and updates articles weekly, and shortly after … More Who Do you trust!
Don’t panic on pensions
Sunday Star Times Oct 13th, 2013 D1, D5
Fears of a massive unaffordable pensions blowout in future may be easing as analysis suggests a sustainable solution is achievable.
Measures proposed by the Retirement Commission are estimated to cut the cost of NZ Super to about 6.5 per cent of GDP by 2060 – a level seen as costly, but affordable.
Retirement Commissioner Diane Maxwell said the measures were designed to be the last big changes needed to make the universal state pension sustainable in the face of an ageing population.
Her comments follow analysis from the University of Auckland’s Retirement Policy and Research Centre showing a consistent decline in Treasury’s estimates of the future cost of NZ Super.
On Wednesday in the Focusing on the Future report the Commission for Financial Literacy and Retirement Income proposed progressively raising the age of eligibility for NZ Super (currently $21,336.64 before tax for a person living alone) as life-spans increase. Continue reading Kaspanz Chair Makes Sunday Star Times
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