From RNZ · RNZ | Te Reo Irirangi o Aotearoa · · 1m
ACT sets out plan to raise retirement age
ACT Party's fiscal plan cuts debt, spending and disability benefits.
In brief
ACT Party's fiscal plan cuts debt, spending and disability benefits. ACT Party's fiscal plan raises retirement age, cuts debt by $653m and reduces disability benefits by $12m annually. Originally reported by RNZ.
ACT fiscal plan
The ACT Party's fiscal plan promises to cut debt and spending, raise the superannuation age by three months every year, and cut disability benefits by $653 million.
Superannuation changes
The superannuation changes would also put contributions to the NZ Super Fund on hold and include 'compassionate access' for those who had spent 'a substantial portion of their career in physically demanding jobs'.
“a substantial portion of their career in physically demanding jobs”
Disability benefits cuts
The document laid out plans to curb disability benefits by $12m in the first year, rising to $124m, $231m and $286m in subsequent years.
Fiscal plan details
Operating allowances would be reduced by $400m a year, while non-welfare spending would be reduced over three years to 2017 levels adjusted for inflation and wage growth.
The short version
ACT Party's fiscal plan raises retirement age, cuts debt by $653m and reduces disability benefits by $12m annually.
