“Poorer Every Year”

Press, Volume CVI, Issue 31136, 12 August 1966, Page 14

“Poorer Every Year”

(N.Z. Press Association) WELLINGTON, August 11. “Super - annuitants are retiring to get poorer every year,” said the general-secre-tary of the Post Office Association (Mr I. E. Reddish), today. “For many years the association has pointed out the Injustice of pegging superannuation allowances while the cost of living rises and most other forms of income rise with it,” he said at the conclusion of the annual conference of the Post Office Association. “Governments in Australia, the United States, France, Germany, Sweden, Norway, Denmark and Switzerland have accepted their obligations.”

He said the Post Office Association was concerned because the Government had steadfastly refused to do anything but refer the matter to an endless series of committees, and to offer to consider individual cases of hardship. “Every contributor to the I Superannuation Fund is a potential superannuitant, and we do not want our members

to look forward to retiring on a declining standard of living ending in comparative hardship. “Delegates to the conference were of the opinion that an unanswerable case exists for superannuation allowances to be adjusted in accordance with economic

changes so their actual value is kept relatively stable.” Mr Reddish said delegates had decided that the Government be called upon to take action to improve the position for superannuitants and to restore the real value of the superannuation allowances.