Being honest about retirement

via Andrew Sullivan

I said a couple of weeks ago on Citizen A that our politicians needed to start to be honest about retirement and retirement savings. This comment by David Von Drehle begs politicians on both sides to get “honest with younger Americans. The sentiment holds true here in New Zealand too.

No matter who is in charge, health care spending is not going to be able to rise indefinitely at twice the rate of inflation. Cost will, inevitably, become “a measure of efficiency,” whether the government applies that discipline directly or through vouchers. Call it rationing, call it “bending the curve”—whatever. It means that some things that would be paid for under the current system will not be paid for in the future. If younger Americans want those things, they will need to have money socked away to pay for them.

Labpour decries the changes to Kiwisaver but I can see why National made the changes. Instead of the burden for savings resting upon the government, it rest more fully on the individual. This the the right and sensible thing to do. Labour’s solution is just a conjuring trick, placing the burden upon all taxpayers to save for those with Kiwisaver accounts.

People must learn once again in this country to look after themselves rather than expect the government to look after them. If you expect the government to look after you then you are certainly going to have a very, very poor retirement.


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  • gazzaw

    I would like to comment on one aspect of the ‘touchy feely’ profligate use of taxpayer funding with funeral expenses. Last week my elderly mother died and I duly called WINZ to advise that her super payments be curtailed. Much to my amazement the first thing that the WINZ staffer told me was that there would be a further payment of $697 lodged into my mother’s account and that I maybe entitled to a $1925 grant towards funeral expenses. Why? She had her regular fortnightly remittance lodged on the night of her death so why would she need a further fortnights pay? I have since investigated the parameters surrounding the funeral grant and there are very few. Check out the WINZ website and ‘Non Assessable Assets’ include house, furniture, cars, boats, caravans and of course any undivided beneficial interest in Maori land.

    Might I suggest that WINZ payments cease immediately at the time of death and that all funeral costs become a family responsibility.

    • thor42

      Agreed, gazzaw!
      Sheesh…… is there ***anything*** that WINZ do NOT pay for? Porn magazines maybe?
      For the 837th time – our politicians need to ***harden the FUCK up*** and deal with the superannuation time-bomb once and for all.
      Fuck, the changes to Kiwisaver are ***NOTHING!*** They are the most limp-wristed, panty-waisted response that the government could come up with. Fuck – please stand for election, WO! Get these wussy types in Parliament to HARDEN THE FUCK UP. Axe “Robbing the Taxpayer for Families” and a fucking lot else too.