News

Many economic commentators have spread doom and gloom about the future of NZS, urging the Government to urgently curtail spending on this entitlement! Fortunately, the truth emerges, and the fake news dispelled. Max Rashbrooke, senior research fellow in the school of government at Victoria University of Wellington, in an opinion piece in The Post on June 28th, has exposed the fake news. “One of the firmest beliefs held by elite commentators – and one of the most ill-founded – is that New Zealand Superannuation is unaffordable.”

The Retirement Commission has launched a unique tool to help retirees plan how to best manage their retirement savings as they age.

After years of slow progress, legislation passed 2 years ago, finally comes into force from July 1st 2025.

For years Grey Power has been urging government to review the rates rebate scheme, especially as so many Councils have increased rates well beyond the CPI year on year.

The NZGP President Gayle Chambers says that ‘It is great to see Kapiti has taken this initiative to ensure people’s needs are acknowledged when shopping’.

"Every time a person spends three or four days in hospital, that's an immense cost to the health system. It's also debilitating for the person and it's a stress and a strain for the families of those people."

The 2025 NZS rates have been approved by the government for 2025, with increases from April 1st that exceed the CPI increase of 2.2%. 

Finally, the Government appears to have listened to the public’s frustration with our crumbling health system. Waiting lists in primary and secondary care appear to be growing longer and longer with poor outcomes for the most vulnerable.

Wellington Central Grey Power president Colleen Singleton said it had members in central Wellington living “hand to mouth”. as they struggled to keep up with the rates increases.

Susan Edmunds Money Correspondent with RNZ, reports on the significant impact of the sustained period of financial stress New Zealanders have faced. The economy has changed in many ways, including the higher prices we are all paying compared to 5 years ago. 

The Mercer international review of international pension schemes has just been published. The top scoring countries with an A rating were Netherlands, Iceland, Denmark & Israel – each of which were classified as a “first-class and robust retirement income system that delivers good benefits, is sustainable and has a high level of integrity.”

Grey Power strongly supports the Retirement Village Resident’s Association’s (RVRA) call to overhaul unfair Retirement Village Legislation. Meetings are planned next week between associate housing minister Tama Potaka and parties such as the RVRA interested in early retirement village law reform. For more background see the article in the Waikato Times.