On Bernard Hickey's discussion with Dominick Stephens on When the Facts Change: we're all getting older and something has got to give:
Economist Andrew Coleman has suggested that to keep NZ Superannuation affordable the Government must establish a compulsory contributory savings scheme. It would require workers to save to provide as far as possible their own Super to last from the age of 65 till 75 (the decade when many will continue working anyway) with the state topping up accounts for those unable to save the necessary amount. Then at 75, everyone would go on to the fully state-funded NZ Super. Thus, by the time it was fully running (in 45 years' time) the state's tax-funded Super bill might be much less.
On Bernard Hickey's discussion with Dominick Stephens on When the Facts Change: we're all getting older and something has got to give:
Economist Andrew Coleman has suggested that to keep NZ Superannuation affordable the Government must establish a compulsory contributory savings scheme. It would require workers to save to provide as far as possible their own Super to last from the age of 65 till 75 (the decade when many will continue working anyway) with the state topping up accounts for those unable to save the necessary amount. Then at 75, everyone would go on to the fully state-funded NZ Super. Thus, by the time it was fully running (in 45 years' time) the state's tax-funded Super bill might be much less.
https://www.interest.co.nz/public-policy/129892/andrew-coleman-calls-new-zealanders-focus-tax-policy-attention-retirement