Wednesday, 10 October 2012

Raiding Super to buy votes?

The present Superannuation scheme is clearly unsustainable. Paying universal Superannuation to everyone over 65 for the indefinite future is guaranteed to send us the way of the Greeks. But folk nearing retirement do need to be able to plan their future.

It therefore makes prudent sense to announce that govt will at some specified time in the future begin raising the eligibility age for Super, perhaps by six months at a time ever two years.

To the credit of the Labour Party, they have this as a policy—though in their case they stop raising the age before I would.

Raising the Super age to 67 will save around $1.5 - 2 billion.

Unfortunately, no politician or lobbyist can see a sum like $1.5 - 2 billion without wanting to raid it for their favourite programme.

Enter the Children’s Commissioner, who wants the money saved spent on “developing a mix of services for children”  and increased benefits for beneficiaries with children.

Did you spot the nice sleight of hand? In other words, he wants to “redistribute” the un-wealth from retirees to beneficiaries.

This is just a trial balloon. If it arouses no great hue and cry, expect vote buyers in all parties to follow it up swiftly.


  1. Yes I agree that this 'mix of services for children' bullshit is probably a trial balloon.... but the problem is far more serious than is obvious from your post.

    'Saving 2 billion' might sound like a worthwhile thing to do, but it is not, actually. 2 billion dollars is, quite literally, nothing in the scheme of things, when you consider that the stupid bunch of assholes who run this country BORROW 2 billion EVERY 10 WEEKS! This, in addition to all the tax revenue that they get!

    I am not advocating scrapping National Superannuation here. I myself am now on the pension (and I think I earned it through a working lifetime of paying taxes), but I would quite happily have waited one or two years more to get it if I thought it would make a difference. No, I am just pointing out that the financial problems that we find ourselves in cannot possibly be addressed by merely fiddling around with the retirement age.

    Think about it. John Fucking Key is putting this country in hock to the tune of TEN AND A HALF BILLION DOLLARS EVERY YEAR! Why? Where does all this money go, and how the hell do we hope to repay it?

    Forget the oldies... lets try to deal with the bllody fundamentals for a moment.

    Dave Mann

  2. ... and in case you are wondering, 'bllody' is a new word that I just invented - hahahaha!

    Dave Mann


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