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The National Party on Welfare and Superannuation

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The issues

The National Party strongly opposes increasing superannuation from 66% of the average after-tax wage

National would increase super. The party policy statement on the issue says, "Because superannuation is calculated on the average after-tax wage, our economic package and our commitment to maintain superannuation rates at 66% of the average after-tax wage will see a subsequent rise in the incomes of retired New Zealanders receiving superannuation."

The National Party opposes keeping KiwiSaver in its current form

National policy is to reduce the minimum contributions demanded of employees. From April next year, the minimum contribution rate for employees in KiwiSaver will be 2% of gross salary. Employers will also be required to make minimum contributions of 2% of gross salary, for each of their employees who are KiwiSaver members. Discontinue the tax credit that is currently paid to employers whose staff are enrolled in KiwiSaver. Repeal recent legislation which effectively discriminates against some employees who can't afford to join KiwiSaver”. The party will use its proposed changes to KiwiSaver to fund tax cuts.

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

National says it would direct the NZ Superannuation Fund to invest at least 40 per cent of its capital locally. John Key has said during the 2008 campaign that he would legislate for the fund to have at least a 40 per cent target in a range of assets including bonds to fund large infrastructure projects.

The National Party strongly supports requiring parents on the DPB to return to part-time work or training once their children are at school

National will extend part-time work obligations to: People receiving a domestic purposes benefit, once their youngest child is aged six or over and people receiving a sickness or invalids benefit, if they have been assessed as able to work, according to party policy. These beneficiaries will be required to spend at least 15 hours per week in employment, training, or job-seeking activities.