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P.M. firm on super. election promises

Parliamentary reporter

Commitments made by the Government on National Superannuation Will “certainly be honoured,” the Prime Minister (Mr Muldoon) said yesterday.

The Cabinet yesterday took another look at the possibility of adjusting National Superannuation payments within the guideline of the Government’s policy of 3 per cent cuts in spending, but Mr Muldoon said that since the possibility had been mooted there had been “an excess of excitement” among the public. “Anything we did in that area would, have to be consistent with the statements made before the last election and, indeed, at other times,” he said.

Although the Minister of Social Welfare (Mr Young) had mentioned National Superannuation in the context of pruning Government expenditure, .it had really been only in terms of suggestions from his department, Mr Muldoon said.

“There is the feeling that we have certain firm commitments in respect of National Superannuation. If that is so, then they will be honoured,” he said. “We’re having, a look at the commitments that have been made. . “I know — because I’ve been deeply involved all the way through — that we sold this thing on the basis that it was a guaranteed income at the age of 60. That has to remain or otherwise the whole scheme just,. collapses,” Mr Muldoon said. “We sold it on the basis that people could at a very early age plan for their retirement. That’s the basic and fundamental feature of the whole scheme and that must remain,” he said. “Now, where you go past that there is perhaps an area

with a question-mark over it,” he said.

Mr Muldoon said that the Cabinet had also discussed the cost of National Supera nnuation.

An approximate net cost, in 1982 dollars, was about $4OO million a year more than the systems of age benefit and Universal Superannuation it replaced. This figure had to be reduced, however, by a considerable amount, almost impossible to calculate, for the fees, of elderly people in geriatric and rest homes, Mr Muldoon said. These fees were now subject to a contribution from National Superannuation, whereas previously they had been met under other Government spending through either the Health or Social Welfare votes. “The net cost in terms of today’s dollars is something under $4OO million,” he said, comparing today’s bill of $1789.3 million with previous spending on the elderly. “The essential thing that I’m saying is that there will be no changes made to National Superannuation that are inconsistent with the assurances that we. have given over the years,” Mr Muldoon said; '- '

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/CHP19820302.2.2

Bibliographic details
Ngā taipitopito pukapuka

Press, 2 March 1982, Page 1

Word count
Tapeke kupu
427

P.M. firm on super. election promises Press, 2 March 1982, Page 1

P.M. firm on super. election promises Press, 2 March 1982, Page 1

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