07/07/2021
Judith Collins on The AM Show. Credits: Video - The AM Show; Image - Getty Images / The AM Show
Judith Collins thinks Kiwis will be on board with raising the age of eligibility for superannuation because they love working.
The age is currently 65, but a new report from Treasury has cast serious doubt on whether that's sustainable. Kiwis are living longer, spending more of their lives eligible for the no-strings-attached payment, and an increasing number of us are over 65.
On current trends, Treasury estimates the cost of universal super will increase by more than 50 percent over the next 40 years, contributing to a Budget blowout and sending debt into the stratosphere. It recommended either upping the age to 67 or taxing recipients more on their other incomes to help pay for it.