I don't know what Jens' hobby horse is but his misrepresentations cannot go unchallenged. Yes the fund is mainly required to assist the country through the baby boomer bulge, but that's what it is - a bulge. When the bulge is over, the number of superannuitants compared with those of working age will be manageable again. The fund will still exist so current taxpayers, who include boomers, should have no fear as their kids provision will be even more secure - unless ACT or National sabotage it like they did last time and which is the greatest part of why we lag so far behind Aussie now.

Mr Blobby - taxpayer contributions to the NZSF as it is at present, are to be terminated in the middle 2030s, after which the NZSF is running down, even though the proportion of longer living superannuitants will still remain higher than what it was before the baby boomer bulge.
That's why there is a good case for amending it into a permanent institution of Personal Accounts, to keep the taxpayer hand-to-mouth super financing relief going forever, together with the economic benefit of the long term investment being kept going by continuing NZSF accumulation.

im about to grizzle about the retirement age going up, because they cant afford us oldies and can safe millions by doing this ....... ok what about putting the dole age up to 20 and saving many more millions .... or better still ... only allowing them on the dole for 3 months then make them get jobs, even if its scrubbing dunnies like some of us had to do (when dole wasnt there)

NEMSA, I agree with you - but instead of grizzling, why not join forces and publicize the constructive effort of increasing - all-inclusively, with even dole receivers participating through a proportion of GST they pay - towards accumulating NZSF retirement accounts, which - being very long term savings - will also double up as productivity increasing investments for the benefit of all?
Wouldn't that convert our relative pessimism at present (like failing to keep up with Australia) into a surge of energetic, new wealth creative optimism?

Post deleted at 27 Jul 2010 9:20pm by Jude161

I too are on super & still work part time, i can`t see it every being done away with, there will always be something to go around, well i sure hope so as jobs are going to become less & less in our future. i think the best years of working in a full time job for life are well gone.

Even if pensions were done away with, the government/taxpayer would have to continue to pay those already on one, or pay some a top-up until the generation that had fully saved for its retirement finally eventuated.

Interesting thoughts in this discussion. I'm turning 65 in October (Hooray!!) & would like to know if the rule still applies where I can continue to work part time & it will not affect my super, although I will pay higher tax on my work income. Any feed back welcomed Thanks
Mike

Hi Mike
As I understand it there is no change. I am on super and work part-time without if affecting my super.
Cheers
Barb

Thanks Chickiwi, it's good to know we can continue to do a lttle bit more
Mike

Isn't it unfair, that superannuitants - and all those on low incomes not able to take up KiwiSaving - are excluded from KiwiSaving incentives?
In other words, through their taxes they have to subsidize those higher income earners taking up KiwiSavings!
So - what about the $1000.- Kiwisaving incentive to all qualifying New Zealanders - including superannuitants - as "sleeping accounts" within the NZSF - until activated (or withdrawn by their superannutiant owners)?
It would not cost taxpayers a cent extra, as we have saved the money already!
The NZSF is supposed to be for the benefit of retirees, and we all would benefit from using the NZSF for the purpose it was designed for NOW, instead of in the late 2020s.

Just to add another thought to this "retirement thing". I am at the age where it is thought I "should retire". I am on long service leave at the moment but no way am I going to retire. To many people and the firms they work for still have this fixation that when you reach a certain age that that is it ,you stop. If more people carried on working there would not be the problem of no more super.