The number of Kiwis aged over 65 will double by 2040 to 1.2 million, showing Labour is right to steadily raise the retirement age to 67 to make super affordable, says Labour’s Finance spokesperson David Parker.
“The cost of super will be more than putting our children through the entire education system from early childhood to university, in just two years. New Zealanders agree it is simply wrong to spend more on superannuation than educating our children.
“John Key doesn’t understand that. He doesn’t realise that New Zealanders want the Government to start planning now so that we can save super and be fair to everyone.