Stupid NZ Herald Editorial

I do wish sometimes the leader writer/s at the NZ Herald would think about what they write.

Today’s editorial is called “Don’t mix politics and super” and basically it calls for National to commit to the terms of Kiwisaver by 1 July. Now I don’t necessairly disagree with the conclusion, but it’s this line I have to take umbrage with:

Let’s put superannuation savings beyond political opportunism once and for all.

Hello, What do you call the changes Labour has made, without consultation, but naked political opportunism?

Let’s be in no doubt. The changes to Kiwi Saver are radical and major. They shatter the consensus that did exist on superannuation. They seriously undermine the argument for the Cullen Fund and universal wage indexed non means tested superannuation at age 65.

So the gall of demanding that National sign up to them in a matter of weeks, on the grounds that superannuation savings should be beyond political opportunism, is just staggering.

Personally I prefer political parties not to make policy up on the hoof.

As it happens I actually think National should retain most of the details of Kiwi Saver. It is de facto compulsory private savings and over time will replace public super as the major source of retirement income. This will allow the Cullen Fund to be converted into individual savings accounts in a decade or so. In fact NZ First and ACT have already come out advocating this.