Labour mulls raising age for New Zealand Super

Labour has given its strongest hint yet that it would raise the age of eligibility for New Zealand Superannuation.

The party’s finance spokesman confirmed to the Mood of the Boardroom business function last week that he had not “closed the door” on re-examining questions about the age of eligibility for superannuation.

“If this is Labour’s new retirement policy, it should come clean and explain it to New Zealanders,” Finance Minister Bill English says.

“New Zealanders planning for their retirement over the next few years should be deeply concerned about what Labour is saying.

“On the one hand, it is calling for extra support for people to help them through the recession. On the other, it is looking to cut back entitlements to retired New Zealanders.”

The National Government has made its commitment to maintaining New Zealand Superannuation absolutely clear, Mr English says.

“Under this Government, New Zealand Superannuation will be maintained at 66 per cent of the average after-tax wage for a married couple, paid from age 65.

“This policy is not up for debate – despite confused comments to the contrary from the Opposition.”