Written By: - Date published: 9:12 am, March 15th, 2017 - 27 comments
Married couple, increase after tax $8.36 a fortnight each or $4.18 each a week!!!!! Disposable Income, 0.5971428 each a day !!!! Goes up on April 1st, how the hell did they arrive at this sum?
I find out.
Written By: - Date published: 8:59 am, March 8th, 2017 - 53 comments
Bill English’s new super plan falls between 2 stools. The super cost crisis that he’s trying to summon up, is before 2040 if it exists. The solution was the Cullen Fund. By 2040 you’re just adding yet another Baby Boomer cost onto GenX and the millenials, and there’s going to be a shortage of jobs anyway, without adding 65 & 66 year-olds to our dole queues.
Written By: - Date published: 7:52 am, March 7th, 2017 - 43 comments
English isn’t going to be very happy when he opens the papers this morning.
Written By: - Date published: 4:08 pm, March 6th, 2017 - 123 comments
In what seems to have been a panicked reaction to a disastrous series of interviews, English has just announced that the age of eligibility for super will rise from 65 to 67, phased in from 2037.
Written By: - Date published: 1:41 pm, March 4th, 2017 - 93 comments
In what was apparently a pretty dire interview on The Nation this morning, Bill English dropped one bombshell, possible changes in superannuation. For the record I think English is right on this. For a change.
Written By: - Date published: 1:24 pm, December 12th, 2016 - 87 comments
English is not making the same stupid pledge as Key, to let superannuation consume the future. Time for a cross party accord. Take it off the table as a political football and solve the damn problem.
Written By: - Date published: 11:40 am, August 5th, 2016 - 35 comments
In a sign of just how stressed our economy is: “Inland Revenue is chasing employers for unpaid KiwiSaver contributions worth tens of millions of dollars.”
Written By: - Date published: 9:49 am, July 2nd, 2016 - 66 comments
If you’re an average worker the actions of the National government have reduced the value of your KiwiSaver fund at retirement by about $100K.
Written By: - Date published: 7:00 am, January 27th, 2016 - 76 comments
How many more lies will John Key tell today in his so-called State of the Nation address? Virtual chocolate fish to whomever guesses the closest number.
Written By: - Date published: 10:18 am, June 9th, 2015 - 101 comments
Advocates of Kiwisaver and other funded “retirement savings” schemes perpetuate the fundamental misunderstanding that “conventional” in New Zealand’s case “neo-liberal” economists, speculators, finance companies, politicians and those with a lot of share holding wealth in non-productive enterprises like to perpetuate.
Written By: - Date published: 9:31 am, May 25th, 2015 - 197 comments
National has again refused to consider doing anything about the future of Superannuation. Yet its policies of increasing Crown debt, stopping contributions to the Cullen Fund and attacking Kiwisaver have made a discussion about the future of superannuation more important than ever.
Written By: - Date published: 7:15 am, November 21st, 2014 - 106 comments
Yesterday a report from the NZ Super Fund (the Cullen fund) provided further evidence of National’s economic “genius”. We could have used the $4.8 billion that they just chucked away.
Written By: - Date published: 2:00 pm, November 16th, 2014 - 20 comments
Hamilton City Council currently has plans to sell of its remaining pensioner housing stock. It already sold off a block of them in 2012. Of those sold, only 12 out of 53 units are available for seniors to rent at affordable rates. This is because 27 were sold as there was no social service provider able to buy them. So now Council want to sell the rest.
Written By: - Date published: 11:35 am, June 17th, 2014 - 202 comments
Labour has released its Kiwisaver policy. Kiwisaver will now be universal for all workers except those earning less than a to be set level. Contributions will be gradually increased. The $1,000 Kick-start and government contribution of up to $521 a year will be retained and will apply to all new enrollments
Written By: - Date published: 10:50 am, May 26th, 2014 - 71 comments
The more that National publicly adopts “left wing” “socialist” party policies, such as “free” medical care for children under 13, keeping the retirement age as it is, and balancing the budget, the more they rise in the polls.
Written By: - Date published: 7:33 am, March 2nd, 2014 - 164 comments
Labour’s current policy to gradually increase the age of retirement is a fiscally appropriate response to the pressures that will result from the baby boomer bulge in the population approaching retirement. But is it the right thing to do?
Written By: - Date published: 3:37 pm, January 17th, 2014 - 26 comments
Why a UBI?
Firstly. To overturn some paradigms:
That a great many people should lead poor and constricted lives, so a very few can be rich.
That ordinary people are disposable economic production units.
Written By: - Date published: 8:47 pm, January 7th, 2014 - 359 comments
New Zealand was once considered one of the best places on earth to live. It could be again …
Written By: - Date published: 10:13 am, December 7th, 2013 - 247 comments
Just when you begin to think Labour are looking like a Government, one of the has-beens from the Rogernomics era, again! shows that they have NFI how to get elected and they are still clinging desperately to the Neo-liberal paradigm.
Written By: - Date published: 3:50 pm, October 31st, 2013 - 41 comments
The meme of “we cannot afford super, welfare seems to be very powerful. So powerful, that even those who know better have been taken in.
Written By: - Date published: 8:28 am, October 30th, 2013 - 160 comments
Raising the super age is not only unnecessary, it further entrenches intergenerational inequity, reduces community incomes and makes Māori and Pasifika pay too high a price. Conference delegates: make Labour think outside the orthodox economic box and vote it down.
Written By: - Date published: 8:05 pm, October 21st, 2013 - 61 comments
Winston Peters’ KiwiFund proposal would nationalise KiwiSaver. Russel Norman supports it, but in competition with private schemes. Cunliffe is open to negotiation. Key is dismissive, but says Peters is so untrustworthy he is likely to back down & form an alliance with National anyway.
Written By: - Date published: 12:48 pm, October 17th, 2013 - 41 comments
Bill English praised the Cullen Fund on its 10th anniversary yesterday. He noted it has achieved an average return of 8.84%, well above its target. He failed to mention that he opposed the Fund being created and that he suspended contributions to the Fund at the worst possible time. And he still doesn’t want to resume them for 7 years.
Written By: - Date published: 10:59 am, October 9th, 2013 - 56 comments
Stopping contributions to the Cullen Fund was always going to stand out as one of John Key and Bill English’s most economically inept decisions. They chose to stop the Fund buying assets just when they were at decades low prices, Crown borrowing was cheap, and markets were already recovering. The cost in just four years: $2.5 billion. And rising.
Written By: - Date published: 11:58 am, September 5th, 2013 - 230 comments
The concept of UBI has a long history in New Zealand.
Of course, we already have a UBI for those over 65. Which has been extremely successful at eliminating poverty amongst the elderly, at a very moderate cost by international standards.
Written By: - Date published: 7:58 am, January 8th, 2013 - 45 comments
David Shearer recently picked up National’s policy of not contributing to the Cullen Fund while the Government’s in deficit but there’s nothing about being in deficit that alters the case for investing the Cullen Fund. As long as the return exceeds the Crown’s cost of capital, it’s worthwhile. So, how much have the canned contributions cost us so far? $1.2b.
Written By: - Date published: 9:32 am, December 18th, 2012 - 18 comments
Recent pieces by Bernard Hickey and John Armstrong both highlighted the problem of our aging population and the unsustainability of super – in Hickey’s memorable words we are “consuming our future”. Armstrong tries to balme MMP, but that won’t wash, it’s just the usual short-sighted Nat stupidity…
Written By: - Date published: 7:09 am, October 19th, 2012 - 26 comments
Foss has effectively challenged the PM’s stance on ruling out changes to the age of eligibility for NZ Super. A minor rebellion? A faint flickering of independent and rational thought form within the National caucus?
Written By: - Date published: 9:51 pm, August 16th, 2012 - 31 comments
Fresh ideas to grow a stronger manufacturing sector, on top of the major changes Labour has already signalled featured in a speech given today by David Parker to a union audience in Wellington. David Cunliffe was there too, and I particularly liked the discussion afterwards. The key players are receptive to good ideas and it looks like Labour will have a real alternative to offer at the next election.