Wednesday, 5 August 2015

Retirement

This topic contains 119 replies, has 39 voices, and was last updated by Profile photo of penn016 penn016 Older than 3 days.

Viewing 12 posts - 85 through 96 (of 120 total)
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  • #32822
    Profile photo of Jayla
    Jayla
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    Member since: June 13, 2006
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    You are right. What an ideal world it would be.
    The Government are trying to get people thinking this way with certain savings schemes in place.

    #32823
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    Joybel
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    Member since: November 2, 2006
    Topics: 603
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    Has anyone mentioned or asked if the retirement age will be increased by Labour or National after the election. For widows this could be a devasting kick in the teeth. The pittance afforded widows is a disgrace especially if one is unable to work through disability or small children. Unless trained for well paid work the options are not viable. Yet solo mothers are to be put to work or training, whichever of the party’s is elected. There are women in the USA still working in their 70s to pay their mortgages. We think we are hard done by but unless you have Insurance for just about everything you are at the bottom of the heap over there. An Act of God clause is not in USA insurance policies so, you need to covered for all threats.

    #32824
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    Jens
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    Member since: May 3, 2006
    Topics: 22
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    Joybel – there is no party that is going to raise the retirement age at present, nor even in 10 years. But National under Don Brash is on record as believing it inevitable at some time in the future – and even the Retirement Commissioner has warned against that possibility.
    The NZ Super Fund is suppposed to see us over the Baby Boomer Bulge – and that should be of great concern to all young taxpayers today. They (and we all) have to contribute towards BabyBoomer retirement security, with nothing in place for THEIR children!
    That’s why all concerned people should urge allocation of the NZSF to Personal Accounts as a permanent institution, to safeguard our NZ Super eligibility at age 65, because then all NZ Super will be at least partly pre -funded, as it will be for BabyBoomers from the 2020s onward.
    (And we all will benefit from having the system beginning to work NOW, instead of in the 2020s.)

    #32825
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    Chickiwi
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    Member since: June 29, 2006
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    Replies: 22

    Is it correct that the Living Alone Supplement is not income tested?

    #32826
    Profile photo of Jayla
    Jayla
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    Member since: June 13, 2006
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    Hello Chickiwi,
    Yes that is correct. The living alone allowance is an addition for that which you pay exactly the same for, whether you are single or married, such as phone, power, rates etc.
    The rate for a married Couple is 66% of the average working mans wage and you would receive a little extra to help pay these costs so it is part of your payment and not means tested nor additionally taxed.

    #32827
    Profile photo of Chickiwi
    Chickiwi
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    Member since: June 29, 2006
    Topics: 0
    Replies: 22

    Thanks muchly, Jayla, for your helpful answer.
    Cheers

    #32828
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    Jayla
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    Member since: June 13, 2006
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    Hi Chickiwi,
    I forgot to say that you get half of that 66%, that is 33% plus the living alone allowance.
    So the actual fact is that every Superannuitant receives "33% of the average working mans wage".
    The governments in power very neatly forget to state this fact when they are speaking and it makes it sound like they are paying us heaps, when in fact they are not.

    #32829
    Profile photo of Chickiwi
    Chickiwi
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    Member since: June 29, 2006
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    Replies: 22

    Goodness, those statistics make scary reading….Back to the calculator.

    #32830
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    Cookybaby
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    Member since: September 24, 2007
    Topics: 53
    Replies: 2209

    Duh! Never thought of that before, thank you Jayla for clarifying that!

    Cheers CB 😀

    #32831
    Profile photo of Cookybaby
    Cookybaby
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    Member since: September 24, 2007
    Topics: 53
    Replies: 2209

    Looks like just another scam, we’re not all stupid.
    Cb

    #32832
    Profile photo of Jayla
    Jayla
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    Member since: June 13, 2006
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    Cookybaby, I am sure you are right.
    Out of curiosity I tried but it comes up as being unavailable so maybe GrownUps clicked on before we did.

    Chickiwi, Sorry, no statistics, just facts. I’d hate you to think when you retired that you are going to get more than you actually will.

    #32833
    Profile photo of Jayla
    Jayla
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    Member since: June 13, 2006
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    Sorry Moviated, because the page wouldn’t open when I tried I thought it was a ‘bung’ site. I’m afraid it’s a bit late for me though having already passed the 65 a few years back.
    the Stuff site has some good things on it.

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