The Golden Plan is United Future New Zealand's plan for positive ageing. United Future has developed a comprehensive national strategy for the elderly, which is inclusive of all superannuatants and recognises and their need for security and dignity. We acknowledge that the present Government's New Zealand Positive Ageing Strategy has gone some considerable way to developing a comprehensive strategy for implementation. We are proposing better structures and policies to effect this balance.

United Future will:

• Review income and asset testing levels for long term health and residential care services.
• Give statutory protection to the rights of ageing New Zealanders.
• Introduce a community volunteer tax rebate for those volunteers receiving the 55 plus benefit or who qualify for New Zealand Superannuation, as both a financial incentive and recognition of the contribution of older people in society.
• Introduce an extended reciprocal pension portability programme to support New Zealand citizens overseas and migrants living here.
• Improve the integration of health and social services for older New Zealanders to ensure that delivery of services is not a convoluted or difficult process.
• Back a national publicity campaign to change attitudes to older workers and improve their opportunities to be involved in work, training, educational and cultural opportunities.
• Work with non-governmental agencies on policy development for older people
• Support the Government's New Zealand's Positive Ageing Strategy and Action Plan, and propose amendments and refinements as necessary to give the strategy a broader focus

Superannuation

Our policies advocate a sustainable superannuation scheme alongside a series of initiatives, which recognise the contribution older New Zealanders make and encourages their diversity and individuality.

United Future believes New Zealand Superannuation's future sustainability rests on agreement between political parties, the insurance and savings industry and retired peoples' groups. A new multi-party accord on ageing involving these groups must be established under the oversight of the Retirement Commissioner, in line with the baseline of a 65% of the average wage

The accord must:

• Create a workable, achievable and fair superannuation policy for all New Zealanders.
• Be easily understood by all New Zealanders.
• Be free from political tinkering.
• And create a climate of certainty.

To achieve these key objectives, United Future advocates a three-tier approach to superannuation:

1. State-provided retirement income
   United Future will ensure that all New Zealanders over the age of 65, with 10 years or more residence in New Zealand, receive universal superannuation. Married couples will receive 65% of the average ordinary time wage after tax. Single superannuatants living alone will receive a gradual lift from the present level of 41% of the average ordinary time wage after tax, to nearer 50%, with a consequential adjustment of the married rate to 72.5%. United Future also supports the pre-funding of a portion of New Zealand Superannuation to help cope with the retirement of the baby-boom generation.
2. Work-related superannuation
   United Future will promote debate on issues of compulsion, education and tax incentives, and work alongside union and employer groups to find a solution.
3. Personal thrift
   United Future believes that more must be done to encourage private savings to supplement New Zealand superannuation payments, namely through taxation arrangements that are more conducive to promoting long-term personal saving. United Future will:
   • Introduce income splitting for families
   • Seek lower tax rates, with the goal of establishing a tax rate which is comparatively flat
   • Introduce a home carer's allowance for parents at home caring for children under the age of five.
   • Not reinstate of death duties, or new taxes on wealth and inheritances
   • Promote education programmes on the need for financial planning and thrift.

United Future Parliamentary Office: Bowen House, Lambton Quay, Wellington
Email: Phone: (04) 471 9410