Winston forgets his own scheme?

Stuff reports:

Winston Peters has called out Dame Jenny Shipley over the superannuation debate but said she’ll never do it because he will make a mockery of her.

The veteran New Zealand First leader had immigration and the super scheme high on his agenda at a Grey Power meeting in Hamilton, where he promised members free GP visits and discounted power bills for SuperGold card holders.

More than 100 over-50s packed the Age Concern headquarters in Hamilton yesterday to hear Peters go on the attack against “so-called retirement experts” who wanted to lift the age of entitlement, reduce pensions and cut back health and home help.

He said Dame Jenny, chair of the Financial Services Council, wanted to privatise the retirement system and issued her with the challenge.

This is one of his bigger hypocrisies.

It was Peters who in 1997 proposed a scheme to effectively privatise the retirement system and have compulsory individual finds for everyone. It was Shipley who campaigned against the scheme – and won.

He told Grey Power members more than $22 billion in fees would be siphoned off Kiwisaver over the next 30 years to many offshore accounts and said he would start a “Kiwifund” after the election.

“It will be a state-owned and run alternative but run by you and owned by you because those people in your age will be saving in that plan.”

KiwiBank already has a fund, so Peters is promising something that already exists.