Tens of thousands of well-off pensioners are claiming up to half a billion dollars in superannuation every year.
With government debt at more than $60 billion, critics say the wealthy are asking their children and grandchildren to fund their so-called retirement.
Ministry of Social Development figures revealed more than 26,000 people with total income of more than $70,000 a year claimed superannuation last year. At current rates, this could add up to $570m a year before tax..
These figures, released under the Official Information Act, come as the country wrestles with how to pay for our growing retirement-age population and looked increasingly isolated in offering universal super.
A spokesman for Finance Minister Bill English said the Government would make no changes to national superannuation.
He declined to comment on the fairness of funding superannuation for the wealthy. “It is affordable under current settings.”
Green Party MP Jan Logie said introducing means-testing for the wealthy could end up hurting the poor and Labour Party spokesman David Parker said his party would not consider policies to claw back super from the wealthy.
There’s a reason left-wing political parties are moving towards universality or very high income levels for state welfare, despite the fiscal insanity of such policies. Universality protects a policy politically. If superannuation payments only went to poorer New Zealanders then Paula Bennett would quickly set about trying to ‘help’ those retired recipients because she cares about them so much and they’d be mandatorily working part-time at supermarkets while being investigated for welfare fraud, or going down to the WINZ office every six weeks with a copy of their birth certificate to reprove eligibility and having their payments cut off if they didn’t comply, or, randomly, even if they did. The idiocy of paying welfare to retired millionaires is probably worth the horrible bullshit National would inflict on poor retirees if the millionaires didn’t get it.