Plea for bipartisan super.

Press, 29 July 1989, Page 1

Plea for bipartisan super.

By

PATTRICK SMELLIE

The plea for a bipartisan approach to superannuation was made yesterday by the Governor of the Reserve Bank, Dr Don Brash. Speaking not as the governor “but as the long-suffering trustee of a superannuation fund,” Dr Brash welcomed the apparent similarities between the Government’s proposed guaranteed retirement income and National’s policy for reforming national superannuation.

The only big difference between the two was whether to have tax incentives for retirement savings, he said. Dr Brash supported tax incentives as chairman of the Brash consultative committee on superannuation. He appealed yesterday for agreement between the two parties. “It’s a nightmare to switch from one to the other,” he said. “At this point, given the transfer to a taxed-taxed-exempt regime, I hope the Opposition

will accept that.” Speaking to the same breakfast meeting, the Associate Minister of Finance, Mr Neilson, said the advice to the public on superannuation was straightforward. “In the next century, if you want to retire before 65 and live in retirement on an income higher, in real terms, than the current national superannuation level, then you will have to save to achieve that,” he said. Further reports, page 3