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Thread ID: 80968	2007-07-11 03:42:00	Kiwisaver for over 65 - oldies revolution	coldot (6847)	PC World Chat

Post ID	Timestamp	Content	User
568013	2007-07-11 03:42:00	Why has our government been allowed to get away with such a blatant breach of human rights? Age discrimination is supposed to be illegal but over 65 and still working isn't allowed to take advantage of Kiwisaver! We have been assured by our government, many times, that the NZ Super won't be enough to keep us comfortable in retirement. I didn't need telling - I'm still working because of that! But I am denied the advantage of assisted saving through Kiwisaver. The 64 year old can join Kiwisaver, apparently for several years, so when he/she retires they'll be better of than me through government assisted kiwisaving. Is the discrimination because I'm already getting NZ Super? Well, the 64 year old will get NZ Super next year and according to present legislation everyone else will get NZ Super when they reach 65. It's as if suddenly at 65 we're too old for our government to take notice of us, except to the extent that they keep telling us NZ Super won't be enough when we retire! Do we need an oldies revolution to wake up our government? Should we take our Human Rights case to United Nations?	coldot (6847)
568014	2007-07-11 04:28:00	I totally agree... I rang helen and told her that we pensioners were revolting!!! Don't know why but she just laughed at me. Ken ;)	kenj (9738)
568015	2007-07-11 04:29:00	You want to give your money to some dodgy invetsment firm with no guarantees? Just stick it in the bank.	pctek (84)
568016	2007-07-11 04:44:00	Ooops, me does a Tui "Yer, right" I seem to remember the government fronting up with $1.2Billion in the late '80's to bail out the BNZ, after the shysters plundered the market and then fell over. Government had shares in it at that time. All the other banks had the same problems at the time. Oh dear, how sad, never mind!! I am not a money man or investment person, but it used to be that the only totally secure places to put money was in Govt. stock or if you can still find them, City Council loans. These loans were guaranteed by you and I. ie the taxpayer/ratepayer. Do not trust banks. Treat them for what they are. Ripoff merchants who cream billions off us!! Ken	kenj (9738)
568017	2007-07-11 05:22:00	It seems to me that if you don't have a cut-off point for joining KiwiSaver then richer people will join with the objective of building a government-assisted nest-egg which will continue to accumulate until they pop their clogs, and the money will go to their estate, which seems to be rather against the point of the whole thing. As far as there being a government guarantee - why should there be? If there was, everyone would join the highest-risk schemes because they would know that in fact there is no risk. When you join, you have options as to the level of risk you are willing to take - if you want minimum risk, then join a conservative fund and enjoy lower (but effectively risk-free) returns; if you are willing to be more adventurous, join a more aggressive fund that may give you higher returns, but also has a higher risk of a negative return. You pays yer money and yer takes yer choice.	Tony (4941)
568018	2007-07-11 06:09:00	Yes. Which is probably why statistics indicated most people aren't.	pctek (84)
568019	2007-07-11 09:12:00	"It seems to me that if you don't have a cut-off point for joining KiwiSaver then richer people will join..." Tony, Following your line there should be an asset test for anyone joining Kiwisaver! The well-off 50 year old with their own home and money in the bank should be denied access - and perhaps even the 30 year old who has just won $5million on Lotto. The existing (seemingly illegal) age discrimination doesn't answer that problem at all. Lock out the aged poor from Kiwisaver benefits simply because the aged rich just might take advantage of it???	coldot (6847)
568020	2007-07-11 10:00:00	Lock out the aged poor from Kiwisaver benefits simply because the aged rich just might take advantage of it???I refuse to get into the politics of envy. In any scheme there is bound to be a transition period. In the long term everyone will have had the opportunity to join. To be completely brutal, it seems to me that you are saying that even though I made no provision for my old age starting 30-40(?) years ago when (a) it would have cost very little per annum to have accumulated a nest-egg and (b) the economic conditions were such that it was much easier to do so (no student loans, convertible child benefit, etc.) then I should be subsidised now.	Tony (4941)
568021	2007-07-11 11:37:00	I am not quite 65 yet but I remember paying income tax and on top it was one shilling and sixpence in the pound to take care of my retirement. That was pre decimal days so therefore prior to the 10Th July 1967. That money just disappeared. I wonder where it went? I certainly never got it back. Like road taxes are not spent on roads etc. I have until Friday 13th July 2007 to sign up for Kiwisaver as on Saturday the 14th it will be too late. The good news is that I still work and will continue to do so for as long as I am able. Kiwisaver is not Gov't gauranteed. I leave you to your own financial advisors. Too many unkowns at this time in my opinion.	Sweep (90)
568022	2007-07-11 12:15:00	I refuse to get into the politics of envy. In any scheme there is bound to be a transition period. In the long term everyone will have had the opportunity to join. To be completely brutal, it seems to me that you are saying that even though I made no provision for my old age starting 30-40(?) years ago when (a) it would have cost very little per annum to have accumulated a nest-egg and (b) the economic conditions were such that it was much easier to do so (no student loans, convertible child benefit, etc.) then I should be subsidised now. Things change. Adapt as they do. Your vote counts. Please VOTE!!!! Whom you vote for means nothing to me. It is not for me to tell you. It is over to you to make an informed decision. "Working for Family" package does nothing for me as I live alone apart from my two cats. No extra benefit there apart from their company. And as PCTEK says, " brrrpp, yeep etc" or words to that effect. Note that the current age for receiving National Superannuation is 65 years. Now a different Gov't MAY raise that age to 70 or more. And what is a certain Cullen doing with a massive surplus? Just think about it. Circumstances alter cases. I see in Cambridge NZ new houses being built that would shelter Father, Mother plus ten children. Then Father and Mother would have to work and then look after the children as well. Go work it out.	Sweep (90)
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