People were willing to pay more tax now in order to reduce the size of tax increases on future generations, the study found. Photo: 123rf
Universal access to the pension is still the most preferred option for many New Zealanders, with strong opposition to means-testing superannuation payments revealed in a new survey.
The University of Otago study - commissioned by Te Ara Ahunga Ora Retirement Commission - surveyed almost 1300 people, more than half of whom were strongly against raising the retirement age to 67, even if that meant they could pay less tax as a trade-off.
However, people were willing to pay more tax now in order to reduce the size of tax increases on future generations.
Lead author Dr Andrew Coleman said the research compared its findings to the same study conducted in 2014, when support for universal pensions, rather than a means-testing regime, was more pronounced than in the most recent survey.
"Nonetheless, it is still comfortably the most important policy to the largest number of people," he said.
The number of people who wanted the age of retirement eligibility kept at 65 years increased compared to 2014.
"Raising the age of eligibility to 67 was ranked by 61 percent of respondents as the worst policy (of the seven options), making it the option ranked worst by the largest number of people," Dr Coleman said.
The survey also revealed fewer people were feeling confident they would have a comfortable retirement, a difference of 15 percent from 2014.
Retirement Commissioner Jane Wrightson said the findings supported keeping the retirement age at 65.
"Today, 40 percent of people aged 65 and over have virtually no other income besides NZ Super and another 20 percent only have that, and a little more," she said.
"To provide good retirement outcomes we need to maintain NZ Super at current settings and explore other mechanisms to support those where this is not enough on its own."
