Let's talk about superannuation – which I’ve noticed we are doing more and more frequently and which I think will probably become even more frequent as our population gets older over the next few years.

It's come up again because the boss of Milford Investments has given a speech warning that this talk of taking the pension age from 65 to 67 is simply not enough.

And realistically, we have to lift it from 65 to 72 or maybe 73.

Apparently, we aren't taking the unaffordability of superannuation seriously enough, which actually I do agree with, the latter part, that we're not taking it seriously enough.

About 60 years ago, we used to have eight workers supporting one pensioner.

Today, we've got half of that, four workers supporting every one pensioner.

By the time I'm claiming my pension, it's going to be two workers supporting every pensioner.

That is completely unaffordable.

It will not work.

We will not be able to do it.

My prediction is that we are not going to take this seriously until we see the government starting to take this seriously because unfortunately, they are the ones who have to lead here.

They need to start leading by example.

If they want us to save money by giving up years of our pension, which is what the National Party will likely campaign on, then I'd like to start to see them starting to save money as well.

No more throwing money at the Sunny Kaushal’s of this world-or to, in my opinion, silence possible criticism.

No more giving billions to Shane Jones to blow on businesses that can't stand on their own two feet without government funding.

No more giving students a year of free tertiary education to buy votes.

When they start taking the so-called silver tsunami seriously, so will the rest of us, I suspect.

It's called compromise.

Until then, the pension remains the way that hardworking taxpayers who don't get all that other free government money, get back some free government money.

LISTEN ABOVE.

<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Let's talk about superannuation – which I’ve noticed we are doing more and more frequently and which I think will probably become even more frequent as our population gets older over the next few years.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">It's come up again because the boss of Milford Investments has given a speech warning that this talk of taking the pension age from 65 to 67 is simply not enough.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">And realistically, we have to lift it from 65 to 72 or maybe 73.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Apparently, we aren't taking the unaffordability of superannuation seriously enough, which actually I do agree with, the latter part, that we're not taking it seriously enough.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">About 60 years ago, we used to have eight workers supporting one pensioner.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Today, we've got half of that, four workers supporting every one pensioner.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">By the time I'm claiming my pension, it's going to be two workers supporting every pensioner.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">That is completely unaffordable.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">It will not work.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">We will not be able to do it.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">My prediction is that we are not going to take this seriously until we see the government starting to take this seriously because unfortunately, they are the ones who have to lead here.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">They need to start leading by example.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">If they want us to save money by giving up years of our pension, which is what the National Party will likely campaign on, then I'd like to start to see them starting to save money as well.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">No more throwing money at the Sunny Kaushal’s of this world-or to, in my opinion, silence possible criticism.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">No more giving billions to Shane Jones to blow on businesses that can't stand on their own two feet without government funding.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">No more giving students a year of free tertiary education to buy votes.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">When they start taking the so-called silver tsunami seriously, so will the rest of us, I suspect.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">It's called compromise.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">Until then, the pension remains the way that hardworking taxpayers who don't get all that other free government money, get back some free government money.
<p style="-webkit-user-drag: none; -webkit-tap-highlight-color: transparent; margin: 0px 0px 10.6667px; padding: 0px; user-select: text; overflow-wrap: break-word; vertical-align: baseline; font-kerning: none; background-color: transparent; color: windowtext; text-align: left; text-indent: 0px;">LISTEN ABOVE.

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Perspective with Heather du Plessis-Allan: Let's talk about superannuation

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/99471f79-84ec-456a-95d6-b3f0003bc6de/transcript