Well done Bill, 120,000 votes is about what you need to get 5% under MMP

Bill English had a brain fart the other day and announced National was going to meddle with superannuation.

Now it has been revealed that the proposed changes will affect about 120,000 voters.

National’s superannuation changes will affect 120,000 people in the first year they are fully implemented, newly-released papers show.  

The papers also showed that some of the savings made by lifting the pension age will be offset by the large number of people who will still require welfare or other support.

Finance Minister Steven Joyce today released the Cabinet Paper for the Government’s Super proposals, which will lift the pension age to 67 by 2040 and require migrants to live in New Zealand for 20 years, rather than 10, before they can get New Zealand Super.

It showed for the first time how many people would have to wait longer or would miss out altogether once the policy came into force in the 2040/41 year.

An estimated 113,000 people would no longer be eligible for super because of the higher age of eligibility, and around 6800 people would miss out because they no longer met the residency requirements.

The total number of people affected would rise to 122,400 in the 2045/46 year, and 137,200 in the 2050/51 year.

The papers showed that the groups most likely to be negatively affected by the policy change were those with high health needs, the disabled, and people who have been in physical jobs and were not able to work past 65.

These people would be eligible for other support, such as unemployment and disability benefits. But the payments were lower than the super entitlements.

That is around 5% of voters…enough to get a party elected to parliament without needing a lifeline seat.

Or in other words 5% gifted to Winston Peters and NZ First.

Well done Bill, and you have been.

 

– NZ Herald

 


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