National makes fiscal plan its super policy, leaves age rise to talks
National says its fiscal plan released on Monday 12 October is also its superannuation policy. It keeps a commitment to lift the eligibility age over time. It sets no date and no pace.
Finance spokesperson Nicola Willis said the fiscal plan was the policy. She said the age would rise over time and NZ Super would stay universal. She said the detail would be negotiated. Universal means paid to everyone at retirement age, not tested on income.
The fiscal plan proposes no income tax cuts until the books are back in surplus. Surplus means the Government collects more than it spends. On current forecasts that is not until at least 2029, according to RNZ. Treasury forecasts a return to surplus in 2028/29 and $15 billion less in borrowing over the next four years. The Government says debt will start falling sooner than previously forecast. The Prime Minister has restated the commitment to surplus by 2028/29.
ACT supports lifting the age. Labour, the Greens and New Zealand First oppose it. A July RNZ Reid Research poll found 58 percent of respondents wanted eligibility to remain at 65.
Willis and Labour finance spokesperson Barbara Edmonds agreed on Sunday 11 October to a cross-party discussion on retirement and aged care. Willis said on Monday she does not get to "dance alone" on superannuation. She said she had invited other parties to the dancefloor.
She committed to hold cross-party superannuation discussions within the first 100 days of office. That includes consultation on terms of reference, the written rules for the talks. She urged politicians to "put aside the pettiness, come to the table" to find a durable solution. She said superannuation should remain a universal entitlement for every New Zealander at retirement.
Leader Christopher Luxon described superannuation as a "Kiwi issue", not an ideological one. He said it was unhelpful for parties to bring pre-ordained or predetermined outcomes to talks.
National released its Economic Plan in September. It centred on letting earners keep more of what they earned, cutting red tape, lifting education and building infrastructure. In August the party launched a KiwiSaver calculator. It modelled how compulsory enrolment, higher default rates and baby boosts could grow retirement balances.
An earlier, undated Beehive statement set out a past proposal on the age. Then Prime Minister Bill English announced a proposal to lift eligibility progressively from 65 to 67, phased in from 1 July 2037. It would have no effect for anyone born on or before 30 June 1972. That proposal stated there would be no change to universality or indexation. Indexation is how payments are adjusted to keep up with wages and prices. It said the change would be legislated the following year, according to the Beehive statement.
The broader context here is durability under MMP. MMP is the proportional voting system where governments often need support from other parties, so policy only lasts if rivals do not reverse it. That means opposition agreement is needed before law is passed, not after. Process is being put first and numbers second, which lets National hold to no tax cuts before surplus while leaving the age and the transition to talks where Labour and New Zealand First can effectively block change. The things to watch are the terms of reference, who signs up to them, and whether universality and indexation stay in place when drafting starts.
