Superannuation
Sir,—The increase In social security benefits emphasises still further the injustice to State and other superannuitants who paid for their pensions in real money for many years, and are being repaid, at permanently fixed rates, in today’s debased currency. The whole theory of contribut ag superannuation schemes is that current income covers existing pension payments, so, with contributions coming in from salaries which are at four times the pre-war level, and only miserable pittances being paid out, the funds must be in a state of very rude health. State servants paid much more than the percentage deducted from their salaries for the “benefit” of a retirement pension on which they could Jive in dignity, was used as an excuse for making them suffer countless indignities all their working lives. New Zealand, once a leader in social justice, is now a pathetic also-ran.— Yours, etc., VARIAN J. WILSON. May 8, 1969.
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Bibliographic details
Press, Volume CIX, Issue 31983, 9 May 1969, Page 10
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151Superannuation Press, Volume CIX, Issue 31983, 9 May 1969, Page 10
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