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Grey Power June 2016

The Grey Power Magazine is a prime national news source for its readers – New Zealand men and women over 50. Circulated quarterly to more than 68,000 members, Grey Power Magazine reports on the policies of the Grey Power Federation, and the concerns of the elderly, backgrounding and interpreting official decisions which affect their lives.

The Grey Power Magazine is a prime national news source for its readers – New Zealand men and women over 50. Circulated quarterly to more than 68,000 members, Grey Power Magazine reports on the policies of the Grey Power Federation, and the concerns of the elderly, backgrounding and interpreting official decisions which affect their lives.

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national <strong>Grey</strong>power mAGAZINE » june <strong>2016</strong> 43<br />

New Zealand First leader Winston Peters says…<br />

Scaremongering over NZ Super<br />

I am sure many of you here receive<br />

New Zealand Superannuation.<br />

The cry of Treasury<br />

and other scaremongers<br />

is that it<br />

is becoming less affordable<br />

for the country and<br />

they want to push the<br />

qualifying age for National<br />

Super beyond the<br />

age of the present 65.<br />

The fact is at 4.3 percent<br />

of GDP, the cost of New<br />

Zealand superannuation is<br />

relatively low by international<br />

standards.<br />

This compares very well<br />

with an OECD average of<br />

around 7 percent.<br />

Because NZ Superannuation<br />

is taxable, its cost net<br />

of tax is around 3.7 percent<br />

of GDP.<br />

So do not be taken in by<br />

the propaganda which flows<br />

from the Beehive and from<br />

wet behind the ears bean<br />

counters, that New Zealand<br />

Superannuation is unaffordable.<br />

You must be aware,<br />

however, that Mr Key and<br />

his government do not like<br />

New Zealand Superannuation.<br />

They think it is a weight<br />

on New Zealand’s financial<br />

back.<br />

You need only consider<br />

recent history to gain an understanding<br />

of the National<br />

government’s attitude to superannuation.<br />

They are the ones who<br />

increased the surtax, increased<br />

the age of eligibility,<br />

who lowered the level of<br />

entitlement and capped the<br />

travel concession.<br />

They argue about the<br />

increasing superannuation<br />

numbers, as if such an argument<br />

would hold up for<br />

increased primary school or<br />

tertiary education numbers.<br />

If it’s poppycock to apply<br />

such an argument to primary<br />

school entrants and university<br />

entrants why would<br />

it have validity on NZ Super.<br />

That tells you the real<br />

story: they do not like New<br />

Zealand Superannuation in<br />

spite of the fact it is affordable<br />

and will be affordable<br />

well into the future.<br />

The critical issue on the<br />

affordability of any social<br />

welfare policy is the relationship<br />

between popu-<br />

Winston Peters, Terry King and Deidre Morris at the<br />

<strong>Grey</strong> <strong>Power</strong> Federation AGM.<br />

lation growth and GDP<br />

growth.<br />

And the truth is that<br />

while our population is<br />

growing the failure of present<br />

government economic<br />

policies means that GDP<br />

growth is not keeping up<br />

with it.<br />

And the main component<br />

of population growth<br />

that we can control is unfocused<br />

immigration.<br />

Bu you won’t hear any of<br />

this from our sugar-coating<br />

government.<br />

They want immigrants<br />

flooding into this country.<br />

They are hell bent on<br />

consumption instead of<br />

production, manufacturing<br />

and exports, and they<br />

cover off their failure with<br />

self-serving egregious arguments.<br />

If we want to solve our<br />

social problems whilst<br />

providing adequate police<br />

numbers for example, then<br />

we must provide enhanced<br />

economic performance<br />

policies, something which<br />

the facts prove after seven<br />

years National, despite all<br />

the spin and sugar-coating,<br />

prove unable to do.<br />

Moreover, they have suspended<br />

contributions to the<br />

future cost smoothing Cullen<br />

Fund, preferring instead<br />

tax cuts for the rich.<br />

You won’t hear the government<br />

telling you that by<br />

stopping contributions to<br />

the Cullen Fund has cost the<br />

taxpayer billions of dollars.<br />

The government said<br />

they would cease making<br />

further payments until the<br />

Budget returned to surplus.<br />

Treasury estimated that<br />

would not be until 2020<br />

which would mean by 2050<br />

the fund would be worth<br />

$49 billion less than if contributions<br />

had continued.<br />

But the government ignores<br />

that as they did the<br />

fact that the Cullen Fund<br />

was set up with the whole<br />

purpose of cushioning pension<br />

payments at the start<br />

of peak demand in about 15<br />

years.<br />

New Zealand First believes<br />

superannuation can<br />

be made more affordable if<br />

New Zealand was not, as it<br />

is now, a fully funded rest<br />

home for other countries.<br />

We say only New Zealanders<br />

and those who have<br />

qualified by length of stay<br />

and other requirements<br />

should get the full pension.<br />

In this country a migrant<br />

can come to New Zealand<br />

at the age of 55, live here 10<br />

years and contribute nothing<br />

to our economy and<br />

qualify for a full pension -<br />

82,000 people have done so<br />

in the last 15 years.<br />

National won’t confront<br />

this matter because they are<br />

politically correct and lack<br />

the fortitude to face up to<br />

these facts.<br />

New Zealand First faces<br />

up to these facts.<br />

These people from overseas<br />

get the same money as<br />

you, even though you have<br />

contributed all your working<br />

lives and they haven’t.<br />

No other country in the<br />

world gives full pensions for<br />

all migrants after 10 years<br />

residency.<br />

We say changes must be<br />

made in entitlement criteria<br />

so that payments are adjusted<br />

directly proportionate<br />

to the years of residence.<br />

We will be resubmitting<br />

our bill – the NZ Superannuation<br />

and Retirement<br />

Income (Pro Rata) Amendment<br />

Bill based on residency<br />

in New Zealand between<br />

the ages of 20 and 65.<br />

We say all those who<br />

come in with overseas pensions<br />

can keep all that they<br />

have earned overseas. Expat<br />

Kiwis who have lived and<br />

worked much of their lives<br />

overseas can come home to<br />

retire and also be entitled<br />

to pro rata New Zealand<br />

Superannuation and keep<br />

their overseas pensions.<br />

New Zealand First<br />

stands for fair entitlement<br />

of NZ Superannuation and<br />

supports keeping the age of<br />

entitlement at 65 with NO<br />

means testing.<br />

It’s all about fairness.<br />

It was very disappointing<br />

that our Affordable<br />

Healthcare Bill failed to get<br />

past its first reading in the<br />

House last year.<br />

This bill was supported<br />

by New Zealand First, La-<br />

Continued on page 47<br />

Authorised by Winston Peters,<br />

Authorised by Winston Peters,<br />

Parliament Buildings, Wellington<br />

Parliament Buildings, Wellington<br />

NEW ZEALAND FIRST LEADER<br />

WINSTON<br />

PETERS<br />

MP FOR NORTHLAND<br />

Why is there a campagin to<br />

corrode the SuperGold Card?<br />

New Zealand First says hands<br />

off the SuperGold Card.<br />

We’re investing an extra $41 million<br />

into the SuperGold card scheme<br />

in Budget <strong>2016</strong>.<br />

RT HON JOHN KEY MP FOR HELENSVILLE | PRIME MINISTER<br />

Contact<br />

Parliament Office<br />

Parliament Buildings<br />

PO Box 18 888<br />

Wellington 6061<br />

Ph: 04 817 8370<br />

winston.peters@parliament.govt.nz<br />

www.nzfirst.org.nz<br />

CONTACT<br />

Parliament Buildings, Wellington 6160<br />

PHONE: 04 817 9999<br />

Funded by the Parliamentary Service and authorised by John Key<br />

MP, Executive Wing, Parliament, Molesworth St, Wellington<br />

www.national.org.nz

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