Auckland pensioner Bill MacPherson says he would have liked more help for struggling superannuitants in Budget 2023 but was glad to hear about the support options for families.
“For young families, I think it’s a blessing in disguise. To me, where the nation has to grow is our children today. That’s the future of New Zealand,” MacPherson said.
“We need to look after the future of New Zealand, and that’s the children... whatever we can do to help them.”
Some of the announcements in the Government’s cost-of-living-focused Budget delivered today included removing the $5 medicines co-payment; extending the 20 hours of Early Childhood Education to include 2-year-olds; funding to retrofit 100,000 homes; and free public transport for primary school-aged children and half price public transport for under-25s.
The free school lunches programme has also been extended until the end of 2024.
MacPherson would have loved the Budget to include investment in infrastructure specifically for people living on a pension who do not own their home and can’t afford to move into a retirement village.
“I would liked to have seen more help for superannuitants. The thing that I would really liked to see is some sort of finance put aside to build some sort of apartment block, even just single-building studios, for superannuitants.
“Your superannuitant population is getting bigger and bigger every year and they are not all in a position where they buy in retirement villages.”
In April, superannuation payments were increased by 7.22 per cent, in line with the reported inflation figure at the time. Annual inflation now sits at 6.7 per cent. The superannuation top-up meant couples would get $102.84 more in total a fortnight and a single person living alone would receive an extra $66.86 each payment.
The 73-year-old appreciated the increases but said the extra money was absorbed quickly by the rising costs of essentials.
MacPherson, who has previously spoken to the Herald for our Cost of Living series, said he has struggled to make ends meet every day since he retired.
Superannuation was too small to live a “normal life”, he said.
“I have to get Work and Income to get a food card and a petrol card because I haven’t got enough,” he said.
“I get food parcels from two different sources to survive.”
MacPherson admits he hasn’t been wise with money in the past and entered retirement last year after 56 years in the welding industry with no savings. Retirement has been isolating, an often lonely time for the 73-year-old that affects almost every aspect of his wellbeing.
Since retiring, MacPherson cancelled the life insurance he has had since 1972, and his house and contents insurance. He recently sold his car, unable to keep up with maintenance costs.
“[It affects] every aspect of my life, I don’t feel like a normal human being. You can’t say, ‘I think I’ll pop down to Botany and have a look around the shops and maybe have a coffee and lunch’, because I haven’t got the money.”
'His journey was just beginning as it is for so many of us.'