7 Mar 2017

Joyce says people will get used to superannuation change

From Morning Report, 7:10 am on 7 March 2017

The National Party has failed to find any support within Parliament for raising the age of superannuation from 65 to 67. 

no caption

Photo: 123rf

Its support partners the Maori Party, Act and United Future will meet today to discuss the issue as none of the parties are happy with the changes announced yesterday by the Prime Minister.

The changes affect only people born after June 1972.

The Finance Minister Steven Joyce says New Zealanders need time to adjust and prepare for the changes.

He says he doesn't "know if it's a vote winner, but it's the right thing to do."

The Labour Party says the government's case for raising the age of superannuation from 65 to 67 doesn't stack up.

Labour leader Andrew Little says any law changes won't come in until after the general election and they won't take effect until 2041

Our Political Editor Jane Patterson says four years ago Steven Joyce was arguing that Superannuation was affordable and Labour was saying that any responsible government should be taking urgent action.

She says both sides have now flipped over completely and Mr English's stance sets him apart from his predecessor, John Key.

Professor Paul Spoonley, is an expert in demography, about how our population is changing... and what that means when it comes to big ticket items like superannuation.

He says the debate has been delayed far too long and New Zealand is well out of step with all of the developed world.

Morning Report assembled a panel of under 45s to talk about National's new policy to increase the age of entitlement for the pension.

25 year old Maori political commentator Morgan Godfery, 33 year old political blogger and director at Piko Consulting, Stephanie Rodgers, and 41 year old Eric Crampton from the New Zealand Initiative gave their varying views on the new policy.