Super rises 19% under National, PM tells Greypower

In a speech to Greypower today, Prime Minister John Key told the audience at their AGM in Hamilton that the National Government has delivered to superannuitants and will continue to do so.

Mr Key says: “Over the past three years, NZ Superannuation has risen $166 a fortnight for a married couple since September 2008. This is a 19% increase in nominal terms or an 8.5% increase after allowing for inflation.”

This is a significant increase, and is due to a number of different factors - a series of tax cuts; annual inflation increases; a special payment to compensate for the increase in GST; and the fact that after-tax wages have been rising faster than inflation, thereby triggering the 66 per cent wage floor.

By comparison, under the previous Government it took a whole 9 years for the married couple rate to rise 8.5% above inflation.

Mr Key also told Greypower that the National Government was spending more than ever before on health and last year delivered 12,000 more operations for over-65’s than the previous year.

“We have 1,000 more nurses and 500 more doctors now working in our public health sector, and we have also delivered more prescription medicines, shorter waits for cancer patients, and shorter waits in emergency departments,” says Mr Key.

“In law and order, we have passed a three-strikes law to keep the worst offenders in prison, strengthened laws against gangs, and launched an assault against the drug ‘P’. We have also increased police numbers and put in new programmes for youth offenders.

“I have given my word that the married rate of Super will remain at 66% of real after-tax wages”, says Mr Key.

“And I have constantly reaffirmed, and do so again today, that as long as I am Prime Minister, the age of eligibility for Superannuation will not change and all New Zealanders aged 65 and over will be eligible.”