Politics 🗳️ NZ Politics

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dean said:
The entitlement age is creeping up to 67 over time isn't it?
Eventually it will change from what it is, probably some sort of means testing.
How about this idea.
Up to 15% of anyones salary or wage invested in their Kiwisaver goes in untaxed.
That would be a big incentive to save for retirement, higher income earners would do very well but may not be elligible for govt super with a means testing index alongside.
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So we're slaves until we die Dean? Sounds like serfdom to me, which is what we're fast approaching in this neolib fantasy utopia.

Neolibs have a habit of sounding entitled young.
 
MaybeTop8 said:
So we're slaves until we die Dean? Sounds like serfdom to me, which is what we're fast approaching in this neolib fantasy utopia.

Neolibs have a habit of sounding entitled young.
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Sorry, I don't comprehend what you mean. I have a brilliant idea regarding super and denying those pesky neolib rich pricks and you still can't agree. I'll change my name to Chloe and then you will be onboard.
 
MaybeTop8 said:
So we're slaves until we die Dean? Sounds like serfdom to me, which is what we're fast approaching in this neolib fantasy utopia.

Neolibs have a habit of sounding entitled young.
Click to expand...
You’re probably too young to remember back in the 1980’s when NZ Super was means tested by the IRD. If someone on the pension had too much income from another source like still working, bank deposits or other investments, that was subject to a surcharge tax in addition to their normal tax rate.

It’s becoming more and more obvious we can’t keep borrowing to pay the growing number of pensioners a universal pension…. even with the NZ Superfund, there will be a shortfall of 60% by 2040. I may be a cynical old bugger but I don’t trust political parties to not start looking with envy at the amount of money people have in their KiwiSaver funds. A quick calculation shows that for every dollar my wife and I have in our KiwiSaver accounts, employers contributions, government contributions and fund returns have added four extra dollars.

Add to that, our other employer funded superannuation fund, managed funds, cash accounts, share portfolio and equity in property and, although we wouldn’t make the Greens wealth tax threshold, I can see a party thinking “why should they be getting the Super”. TBH, that’s one of the reason we brought a rental property…. to fund our retirement if the government no longer did…. or reduced it.

I watched as firstly the 1980’s share market crash, then the 2000’s e-com drops, business failures and finally, finance companies, continued to take away my parents wealth. I watched, how not having diverse investments and a stable base to fall back on, hurt them. To make sure we could look after ourselves if a party decides we have too much and either looks at taking it via a wealth tax or means testing super or adjusts the starting age, we decided we need to look after ourselves.
 
miket12 said:
You’re probably too young to remember back in the 1980’s when NZ Super was means tested by the IRD. If someone on the pension had too much income from another source like still working, bank deposits or other investments, that was subject to a surcharge tax in addition to their normal tax rate.

It’s becoming more and more obvious we can’t keep borrowing to pay the growing number of pensioners a universal pension…. even with the NZ Superfund, there will be a shortfall of 60% by 2040. I may be a cynical old bugger but I don’t trust political parties to not start looking with envy at the amount of money people have in their KiwiSaver funds. A quick calculation shows that for every dollar my wife and I have in our KiwiSaver accounts, employers contributions, government contributions and fund returns have added four extra dollars.

Add to that, our other employer funded superannuation fund, managed funds, cash accounts, share portfolio and equity in property and, although we wouldn’t make the Greens wealth tax threshold, I can see a party thinking “why should they be getting the Super”. TBH, that’s one of the reason we brought a rental property…. to fund our retirement if the government no longer did…. or reduced it.

I watched as firstly the 1980’s share market crash, then the 2000’s e-com drops, business failures and finally, finance companies, continued to take away my parents wealth. I watched, how not having diverse investments and a stable base to fall back on, hurt them. To make sure we could look after ourselves if a party decides we have too much and either looks at taking it via a wealth tax or means testing super or adjusts the starting age, we decided we need to look after ourselves.
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Nah mate, I'm an oc, double the fives this year. The times you're talking about - all neoliberal policies introduced by Labour and reinforced and amplified by National, supported later through Act.

I don't begrudge anyone super. If you voluntarily want to give it up you should have the option.

As I've said a few times, it's really not those left leaning that are the real threat here.

Watch the rules change around us to privatise, sell everything off, asset strip, extract wealth - it's already happening.
 
MaybeTop8 said:
Nah mate, I'm an oc, double the fives this year. The times you're talking about - all neoliberal policies introduced by Labour and reinforced and amplified by National, supported later through Act.

I don't begrudge anyone super. If you voluntarily want to give it up you should have the option.

As I've said a few times, it's really not those left leaning that are the real threat here.

Watch the rules change around us to privatise, sell everything off, asset strip, extract wealth - it's already happening.
Click to expand...
We’ve already decided on a few charities we’ll donate to if we feel we don’t need the pension…. social housing providers I’ve worked with over the years and breast cancer research (for obvious reasons).
 
Worried2Death said:
I've seen some attempted justifications for it, return to pre-covid level funding, can't afford it because Labour mismanagement of economy etc. Worst possible decision for their optics, just cruel however you frame it.
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My take is that they are finally realizing that the issues they criticised Labour for they're finding out there's no easy solution.
K O solutions are the latest.
All bluster.
Who's going to have to be the front line for the evictions etc.
The Police.
Another problem right away
 
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