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New Zealand First Party on Welfare and Superannuation

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The issues

New Zealand First Party strongly supports increasing superannuation from 66% of the average after-tax wage

New Zealand First policy is to “continue to incrementally raise the level of New Zealand Superannuation to 68% of the net average wage in the first instance (calculated on married couples with a similar adjustment of rates for single persons), rising to 72.5% over time”.

New Zealand First Party supports keeping KiwiSaver in its current form

According to the New Zealand Herald, New Zealand First will “keep KiwiSaver with employee savings rates of 4 and 8% and gradually combine it with NZ Super in a compulsory saving scheme with individual accounts.”

New Zealand First Party strongly supports the government requiring the New Zealand Superannuation Fund to invest more heavily in New Zealand

New Zealand First wants to “direct the guardians of the New Zealand Superannuation Fund to prioritise the purchasing of shares in New Zealand infrastructure companies, particularly when they are being sold by overseas investors, with the aim of building a solid base of New Zealand ownership of these assets. This shall be conducted at arms length, with no ministerial interference, and at the discretion of the guardians so as not to distort the market”. It will also “require the New Zealand Superannuation Fund managers to invest in New Zealand infrastructure and growth industries including making funds available at competitive interest rates to the New Zealand Transport Agency, ONTRACK, KiwiRail and local government for capital projects."

New Zealand First Party is neutral on requiring parents on the DPB to return to part-time work or training once their children are at school

While New Zealand First believes that beneficiaries should “make a contribution back to the community which is paying them”, its only DPB policy reads, “Introduce the Parental Responsibility Bill to require applicants for the DPB to sign an agreement with WINZ to the effect that they will agree to meet with a nominated social worker regularly to provide any."