MULTI-PARTY ACCORD ONLY ALTERNATIVE TO COMPULSORY SUPER

The Minister of Social Welfare, Hon. Roger Sowry, today welcomed the Alliance's willingness to continue working in the Accord once the referendum on compulsory superannuation has been held.

"Regardless of the outcome of the referendum vote, it is my belief that New Zealand needs a strong Accord on retirement policies which sets out clear processes for all parties in Parliament to be committed to.

"The only way of ensuring strong, durable superannuation policies will be through a multi-party Accord.

The reviews provided for within the Accord by the Periodic Review Group will enable superannuation issues to be addressed regularly and in a cooperative environment, says Mr Sowry.

"Alliance Leader Jim Anderton's attempt to blame National for undermining the Accord is simply wrong. It calls into question whether he is going to put aside petty politics and commit himself to work with other parties on long term super policies regardless of the result of the referendum.

"If the referendum delivers a 'no' vote, there are a range of issues identified by the Periodic Review Group's report that the Accord parties will need to address.

"These include: lifting the age of eligibility for NZ Super; income testing, and adjustments of the base level of superannuation," said Mr Sowry.