Summarised by Centrist
Conducted in 2014 and 2022 with over 2,000 people, Andrew Coleman’s surveys for Otago University and Treasury asked participants to weigh in on seven aspects of tax and retirement income policies.
These include the age people should receive a pension, the amount, and whether there should be a compulsory savings scheme.
A standout result, in both 2014 and 2022, is that most respondents viewed keeping pensions free from means-testing as the most important aspect.
On the contrary, Coleman noted that “If New Zealand were to introduce a compulsory saving scheme which forced people to put aside 5% of their income, only a small number would be strongly opposed.”
Another key finding is the widespread desire to protect future generations from high taxes. Most participants were willing to accept a 2% tax increase now to prevent taxes on the next generation from rising by 5%.
Most people don’t want future generations to pay higher taxes. In 2014, 65% of people said they’d rather have their taxes go up by 2% if it means that the next generation’s taxes only go up 3% instead of 5%. By 2022, fewer people (53%) felt this way, but it was still a majority.
There remains a divide over the pension age, with roughly equal support for keeping it at 65 or raising it to 67. Coleman notes that while opinions vary across age, income, and demographics, these differences are not extreme.
