CORRESPONDENTS' VIEWS

Auckland Star, Volume LXXIV, Issue 303, 22 December 1943, Page 4

CORRESPONDENTS' VIEWS

SAVINGS (To the Editor i Your sub-leader of the 18th inst, in which you state that savings are the only safeguard for the future, is not applicable to-day,, as thrifty people are finding their savings a harrier to Retting Social Security, and as savings invested produce verv little more than the pension it is obvious that pensioners would have been wiser to have spent their money and a paternal Government Is now willing to keep them. A man and his wife receive over £3 ner week old age pension. You would need to invest £4500 at 3 per cent to get an equivalent return. When you consider the sacrifice you make in saving this amount, you conclude the spending policy is best. Manv pioneers have followed the lines suggested by you, but they were the days of self-reliance and independence, and these people are now finding their life savings taxed to keep the improvident Sooner or later some change will have to be made with Social Security methods, and I suggest exempting those who are making provision for themselves by Todgesl provident funds and benefit societies. WASTE NOT.