United Future proposes raising super

The United Future Party is proposing a superannuation increase and a new multi-party accord.

Party leader Peter Dunne said under United Future policy, single superannuitants living alone would get a gradual lift from the current 41 per cent of the average wage after tax to nearer 50 per cent.

The married rate would be adjusted in the same way, rising to 72.5 per cent.

He said the future sustainability of superannuation rested on agreement between political parties, the insurance and savings industry and retired peoples' groups.

It should be established under the Retirement Commissioner with these objectives:

* a workable, achievable and fair superannuation policy for all New Zealanders;

* the policy should be easily understood by everyone;

* it should be free from political tinkering;

* there should be a climate of certainty.

To encourage private savings, income splitting for families should be allowed and there should be lower tax rates.

- NZPA

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