Finance Minister Michael Cullen warned today that a National government would cut New Zealand Superannuation in line with OECD recommendations.
“The OECD in its report on the New Zealand economy recommended an increase in the age of eligibility or a change to the adjustment formula so that real benefits increase at a slower pace than real wages.
“English’s sweeping attack today on government spending is a clear endorsement of the OECD recommendations.
“The last time Bill English was a Cabinet Minister National cut the floor below which New Zealand Superannuation could not fall to reduce future fiscal costs.
“I look forward to fighting the next election on Labour’s record of bolstering New Zealand Superannuation and building up assets in the New Zealand Superannuation Fund.”