Friday, June 13, 2008

Dyson slips one under the radar

I read it and thought that's good - if the offspring decided to vacate to AU or another non-socialist paradise, we could go without losing super.

Lindsay sees it slightly differently and I would have to agree. Could be quite expensive for the government.

One of the things I noted was (as I posted in comment on Lindsay's site) that they go to pains to point out the $500M difference between what they get from external super funds and what they pay as NZ Super to recipients in that group.

I wonder how much of the $700M they pay here is because the recipient, although entitled to external super from another country because they worked there in a past life, has actually resided here for more than 10 years.

I can think of examples in my family. My mother-in-law gets some UK pension which is swallowed by NZ Govt and served to her as full NZ Super. She has been here a big chunk of her working life and is well entitled under NZ laws to that super and would be part of that $700M.

I suspect the bulk of the $700M is not what it is deemed to be in this pr missive as a burden on the state, but a legal entitlement.

Oldies, pack your bags permanently for the Gold Coast and your grandkids. Goodbye Helengrad. Don't forget, last one out turn off the lights, there is a looming power crisis.

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