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A TRIBUTE TO A NEW ZEALAND TREASURE: NEW ZEALAND SUPERANNUATION

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A TRIBUTE TO A NEW ZEALAND TREASURE: NEW ZEALAND SUPERANNUATION

Two of New Zealand’s eminent commentators Martin Hawes and Michael Littlewood have recently strongly supported the New Zealand Superannuation Model. Littlewood in a 2013 paper said “New Zealand Superannuation (NZS) is one of the simplest, most effective, and most cost effective Tier 1 schemes in the developed world. We mess with it at our peril” and Hawes said “NZ Super is a system so simple and cheap that we need to give people certainty and stop playing football with it”

The cost of NZ universal public pension is currently 4% GDP, and over the next 20 years will gradually increase to about 5.5%. Not only is this very affordable, but projections out to 2060 or longer are not helpful due to the many variables involved, and what any historian knows, the poor outcomes of such assumptions. Two rules of forecasting. Rule 1. For each forecast, there is an equal and opposite forecast. Rule 2. Both of them are probably wrong. Continue reading A TRIBUTE TO A NEW ZEALAND TREASURE: NEW ZEALAND SUPERANNUATION →

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Kaspanz Comment on “Focussing on the Future from CFLRI

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FOCUSING ON THE FUTURE” A DISCUSSION DOCUMENT”

Submission by KASPANZ-Kiwi Saver, Annuities and Superannuation Protection Association New Zealand Incorporated

* Note page 41, Table 9. To the uninformed reader, this table is comparing like with like. It’s not!

The New Zealand calculation in Table 9, should show the after tax projection (the after tax costing is the only one that matters)

Kaspanz submission supports the overall context of this wide ranging document, making a number of succinct comments re the recommendations

KEEPING NEW ZEALAND SUPERANNUATION FAIR AND AFFORDABLE Continue reading Kaspanz Comment on “Focussing on the Future from CFLRI →