Super Debate

Brian Gaynor lambasts Muldoon for throwing out in 1975 the then 37 week old NZ compulsory superannuation scheme, replacing it with state funded national super. He points out the scheme would have been worth an estimated $240 billion today if left alone.

Gaynor supports KiwiSaver and wants National to commit to it. Again, I sort of agree but point out a big difference.  In 1975 it was a choice between universal state super and compulsory savings.  In 2008 we are being asked to fund universal state super, pre-fund future universal state super and also fund a semi-compulsory private savings scheme.  One of them has to fall away at some stage.