Interesting that the main solution to the affordability of national superannuation is denying it to the following generations rather than stopping payments to wealthy boomers who don't need it.
https://www.stuff.co.nz/business/127...ebt-oecd-warns
Not really that interesting but the interesting bit is that this suggestion has been brought forward because of all the spending on covid.
Lets be real covid doesn't really affect young people that badly so the response(which I agreed with at least initially, maybe not so much now) was to save old people and the sickly (a worthwhile endeavour in my view). Young people had to give up their freedom and their lives have been put on hold over the lockdowns but they don't complain or get angry, by and large they are less upset about it than some older people.
RBNZ dropped interest rates and started large scale asset purchases boosting house prices nearly 30% in one year rather than see house prices drop by the predicted 10%, virtually guaranteeing a huge debt for any young person buying a house as well as making it unaffordable for most people who do not have parental support.
Interesting that the next generation will also be the ones to pay for it all through income tax and being denied super at 65yrs while capital gains continue to avoid attracting any tax.
When is there going to be a fair shake for the next generation? Rather than denying super to the well off and asking home owners to pay tax on their magnificent central bank engineered capital gains, the burden will fall on the next generations, to ensure boomers can have a very comfortable retirement. Something else that will be denied to the next generations (they will probably still be paying off their student and home loans at 67, unless the RBNZ successfully inflates them away).
It used to be that the older generations tried to make the world a better place for the next generation not the other way round.