Shamubeel Eaqub

speaker

288 appearances 1 recordings 1 series first heard Jun 2026 last heard 28 Jun

Shamubeel Eaqub’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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The Prosperity Project · Think means testing NZ Super is too hard? Shamubeel Eaqub says"bugger off" · 28 Jun 2026 podcast

It's not that we can't possibly pay for it.

The way that we would pay for it would be, I think, unfair and politically unsustainable into the long term.

Yeah, they'll cover for four years or even slightly less of that money.

So the purpose of the super fund is actually not to pay for New Zealand super, but to help us transition away from a compulsory or not a universal super to one that is different.

So when it was set up, it was set up around the same time as KiwiSaver.

So the idea was over time, we will have a, you know, save your own retirement scheme so that that voluntary scheme was going to get bigger and better over time.

So many of us would start to become financially independent.

And eventually we would move towards something where people would be means tested or there'd be some kind of rationing that would take place.

And to transition that so that people who are currently already very old and don't have much time, we can look after those people so they don't miss out.

And the next generation,

We'll have to deal with this new thing.

So it's very much what I'd call a smoothing mechanism rather than a fund that's actually big enough.

We can't predict the future, but what we can say is if we want to build something that's sustainable, then we need to give people at least 30 years to save for their retirement.

That's a minimum.

So that's the kind of timeframe that I'd like to see a transition take place.

So we are being responsible and saying we have left it very late, but we now have a plan that for that next generation, we're going to do everything we can to make the system sustainable for them in the future.

But these generations in between will transition to them gradually through time.

So you've got to give people time.

Otherwise, the politics just won't work, right?

Already you can see the resistance.

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