‘Superannuation cost too much’
National . Superannuation was costing New Zealand more than it could afford, said the former chairman of the Planning Council, Sir Frank Holmes, last evening. “This financial year, National Superannuation is costing $2122 million, whereas the health vote for the year is $lBlO million and the education vote is $1628 million,” Sir Frank said. "National Superannuation is costing as much as twothirds of the total Social Welfare and Maoris Affairs, Housing Corporation votes
combined. “Its cost is growing at a faster rate than any other element of the Social Welfare vote,” he said;/; "It is available to all people over 60 years of age, regardless of heed, and it is generous compared with other social welfare benefits. "I think it would be better to defer the age of automatic entitlement for National Superannuation to 65, so that we can 'spend more money oh real areas of real need. Sir Frank said.
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Press, 20 November 1982, Page 6
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154‘Superannuation cost too much’ Press, 20 November 1982, Page 6
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