older New-Zealanders are forced to receive tax-payer money?
Yuyutsu,
Strange enough comment but isn't it rather a case of simplifying the Pension system & keeping up the economy ? You're looking at the whole show from the wrong view point.
Chris Lewis put up a sane argument, you should take the time to read it & try to understand.
This is not just about everybody getting the precisely the correctly taylored deal. This is about the Nation where some people at times fork out more than others & vice versa.
To try & make it 100% precise & fair would be economically utterly inefficient because people aren't 100% efficient & honest, plus they'd be the first to whinge & bitch if their welfare were to be adjusted according to their contributions !

yes, I knew too many people in building industry that intended to offload wealth with relatives just to get pension.

the fact is that pension made little difference to their wealth, but the mindset of missing out creates a whole lot of new problems.

One builders' labourer had seven houses, always raved on about social justice, but went berserk at idea he would miss out on a pension.

let all have it, and get money back through tax system. This would still create incentive for all to get ahead, but would provide a basic income for those who miss out.

NZ also has additional super scheme, which can also be used for first house, another idea I like.

Paul1405,

Ask your sons if they prefer sharing their world with old aged pensioners or cashed up parasites who were brought in to keep the Australian economy afloat over the past 30 years and who will be brought in by the millions to regrow our economy in the wake of the Wuhan bat soup virus pandemic.

Let us know what they think about that choice.

Mr. Opinion,

Or Australian mining tycoons who a making billions out of Communist China, like Twiggy Forrest.

Alan Jones has rightly slammed Forrest, telling him he should stop grandstanding and supporting the CCP, that buys his iron ore. He was referring to Forrest's hijacking of a federal press conference by slipping in a Chinese ex-cyber spy now Consul General in Melbourne without the Health Minister's knowledge. Forrest was big noting himself after his deal with the Chinese Communist Party to sell us masks. He's not even trying to be subtle about his self-interest and the interests of the Chinese Communist Party.

Chris Lewis,
I have an ex work mate who has five houses & he still pursues jobs at age 75 because he can't get a Pension ??
What percentage would he represent among the Australian Taxpayers I wonder ! A friend had to sell his boat for peanuts because it was deemed too much of an asset to get a Pension.
I would like to take one of these academic bureaucrats & give them a $800,000 boat which they can try & make a living of at age 80 like they forced my friend to do.
Why the Hell can't they deem something an asset once it gets sold & brings in money, not while it's sitting there doing nothing but corrode & deteriorate because the economic management has failed to create the kind of economy that would make it possible to sell the so-called asset ?

I agree Indy, historically pensioners have done better under Labor governments than the conservative mob. As the evidence shows, Labor runs lower government debt than the Coalition. The last year of a Labor government saw a deficit of $257 billion, by last year the Coalition had jacked that up to $542 billion. By the time these economic jackasses are finished they'll have the national debt at one trillion dollars, with 15% unemployment! How is that for economic irresponsibility!

Now about this pension problem, I previous said the only economically sustainable system is a true national superannuation scheme to replace pensions. The problem with that is such a supa scheme will take some time to be financially viable. In the mean time I suggest we start by reducing pension payments and benefits by 10% annually until national supa can properly kick in. Example the single aged pension should in the first year drop from $944.30/ fortnight down to $849.90 and the PBS increase from $5.60 to $6.15, you get the picture, we shouldn't make it too hard on the old folks all at once.