Providing for retirement: some key issues

Abstract

This topic has become one of the most problematic areas of policy debate around the world. The onset of a marked demographic transition, combined with debate about the role of government and the efficiency of public provision, has provided both a trigger and a platform for debate. In New Zealand, retirement income policy has been a volatile and unresolved issue since the 1970s. During the 1980s and 1990s there was considerable debate about the long-term policy settings. Following the passage of the New Zealand Superannuation Act (2001) the issue appeared to drop off the political radar. However, it has been revived more recently as a result of political and other contributions – such as New Zealand First’s proposal for a “golden age card” and the New Zealand Institute’s discussion papers on an “Ownership Society”. This flow of ideas, combined with the shifting demographic profile, should ensure that retirement income will remain a live issue in the minds of the electorate.