By John Schalch

The rage of age has NZ running

New Zealand's increasingly ageing population threatens to put pressure on more than just the national health bill and the amount of available nursing home beds.

Estimates determine that by 2051 one in four New Zealanders - nearly 1.3 million - will be older than the current superannuation eligibility age of 65.

Already half a million Kiwis are over 65 which has prompted our Government to panic and seriously contemplate following our trans-Tasman neighbours to lift the superannuation age to 67.

Can such a simple thing make a difference? According to consulting and investment services company Mercer such a simple swish of the pen could save future taxpayers at least $100 billion by 2061.

So what's the upside, and will we have any choice in the matter?

On the positive side of the ledger is that the money held in the super bank for an extra two years takes a huge pressure off the reliance on NZ Super and is priceless given this current economic climate.

Secondly, the move would see many superannuates working another two years which would further add to the country's productivity ratio and more income tax earned.

Simply stalling indefinitely the Government's obligation to having to pay well-earned superannuation funds is not productive in the long term.

The Government also needs to continue to offer serious incentives along the lines of joining, and investing in, Kiwisaver to value-add this new proposal.

It also needs to look at the very broad social issues involved and which will be affected by changing any superannuation age from 65 to 67 - health, recreation, travel and broader family care.