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Thread ID: 116150	2011-02-18 23:42:00	Pension fund	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
1179719	2011-02-18 23:42:00	When it's time for me to get it ... it might not be available. The NZSE CEO said in the past NZ's pension has been on a needs basis and now it's a automatic entitlement to everyone. I just thought of: If everyone gets it from your cleaner to your CEO, no one can determine if it is really fair but as people have longer lives etc .. it's gonna cost more to finance. A no. of countries have compulsory super, but for expats or migrants who leave they can claim it back when they leave. I thought that you either finance it more via tax and give it to everyone or that you make Kiwisaver compulsory, cannot withdraw to buy house, that becomes your super. If you were a low income earner and got less Kiwisaver the pension becomes a benefit that you can apply for. Not without the cons; as some people who have low income for the whole lives may struggle to pay super (KS).... Maybe just make pension on needs basis. Reduce the tax. Cos, if you have to pay super (a % of your pay) compared to if you paid more tax and the govt manage the finance. That might be a similar tihng. For those who had paid maybe higher tax believing the provision of auto pension, maybe they could be compensated on a pro rata basis.	Nomad (952)
1179720	2011-02-19 03:42:00	When it's time for me to get it ... it might not be available. When it's time for me to get it it will be long gone. Or age 98 or something.	pctek (84)
1179721	2011-02-19 04:17:00	Around about 15 years ago it went from 60 to 65. If the age went up again it would most likely go to 67. As far as I know the UK is still 60. France increased the age from 60 to 62 not long ago and the French were rioting on the streets, mainly the younger ones claiming that the older people would be pinching there jobs as they would have to work 2 years longer. :)	Trev (427)
1179722	2011-02-19 04:24:00	The UK has "always" had 65 as a retiring age, (women used to retire at 60 but it was raised to 65) but it is being phased out in the sense that an employer will no longer be able to dismiss someone because they have reached 65	Terry Porritt (14)
1179723	2011-02-19 04:36:00	Around about 15 years ago it went from 60 to 65. If the age went up again it would most likely go to 67. As far as I know the UK is still 60. France increased the age from 60 to 62 not long ago and the French were rioting on the streets, mainly the younger ones claiming that the older people would be pinching there jobs as they would have to work 2 years longer. :) I have over 30yrs to my turn :waughh: If it is so hard to manage. They could completely disengage pension, make KS as the compulsory super for those who are earning over a XX income. Then when it time to retire, those who have v little or no super can apply fo the pension which becomes a tested benefit. If everyone gets a pension and everyone who didn't opt out got the KS, that's gotta be financed by somehow. Those who have been in the workplace already gets some kind of compensation depending how much they got left to 65. A person that is now 60 would obviously get more than a person who is 30 now or just 16.	Nomad (952)
1179724	2011-02-19 04:50:00	The UK has "always" had 65 as a retiring age, (women used to retire at 60 but it was raised to 65) but it is being phased out in the sense that an employer will no longer be able to dismiss someone because they have reached 65 Correction, women still retire at 60, but it is being progressively raised: www.dailymail.co.uk	Terry Porritt (14)
1179725	2011-02-19 05:15:00	Correction, women still retire at 60, but it is being progressively raised: www.dailymail.co.uk Terr, as the knower of all things, how does a pensioner manage on $250 a week, and paying rent?	Cicero (40)
1179726	2011-02-19 05:45:00	Terr, as the knower of all things, how does a pensioner manage on $250 a week, and paying rent? That figure suggests you mean the NZ weekly married rate, both qualified, $500/week between 2 in the same accomodation. It's tough for those who haven't managed to buy their own home and paid off the mortgage, and have no other income.	Terry Porritt (14)
1179727	2011-02-19 06:00:00	Was it John Key who decided to defer government contributions to the super fund because of the recession. With all the baby boomers coming to retiring age it is a bit of a worry. There will be fewer people in the work force to maintain the status quo. Maybe we should bring back social security tax or make Kiwi Saver compulsory.	Bobh (5192)
1179728	2011-02-19 06:50:00	That figure suggests you mean the NZ weekly married rate, both qualified, $500/week between 2 in the same accomodation. It's tough for those who haven't managed to buy their own home and paid off the mortgage, and have no other income. I wondered how they do it, bad enough if you own your own house. I think the average wage here is taken at 40k, it is a % portion of that, is it not?	Cicero (40)
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