2017 - A PREVIEW (excerpt)

My crystal ball has alerted me to a significant piece of legislation that will be passed in February 2017 on the resumption of Parliament in the new year.

At first I found it alarming but, on checking dates was relieved.

Here is a fragment of the report on the new legislation:

" ....... 9 February 2017, 4th Amendment to National Superannuation Bill 1974, passed by majority. Effective date 9 August 2017. Summary follows: 

Due to severe fiscal difficulties as a result of International Monetary Collapse following the election of Donald Trump as President of United States of America several significant budgetary adjustments have had to be made ............ In regards to the National Superannuation Bill 1974 Amendment (4) has been passed which will bring into effect the following:
1. Current annuity to be re-established at 60% of the existing amounts across all categories.
2. Eligible age to be raised to 70 from the existing 65.
The effective date of this to begin on 9th August 2017.
[Note to chosen date - the anniversary of the establishment of the current National Superannuation Bill was 9 August 1974]

Understandably there will be a lot of discussion and discontent over this next year but the general public, having been already exposed to the 'financial storm' at the end of 2016 will be largely accepting of the change particularly those members of the general public who were born before 9th August 1952.

A further fragment of the report follows:

" ..... nothing in the new legislation - 4th Amendment to National Superannuation Bill 1974 and its provisions will effect current superannuants and prospective superannuants born before 9th August 1952 who will attain the current eligibility age of 65 before 9th August 2017. The eligibility age of 65 years will be honoured for people of these birth dates and the full 100% of current remuneration along with annual cost of living increases will be honoured for their lifetimes."

I don't have time to cut and paste a lot of the narrative from various media sources which as you will appreciate will be substantial but this one, from the Chinese Auckland Times will be interesting:

"The choice of the start date of the radical change to National Superannuation eligibility and payments is of keen interest to our Chinese readers. 9th August 1952 is not an auspicious date in the Chinese Calendar second only to 20th August 1952.
The last date for eligibility to the lower superannuation qualification age and to the current 100% level (40% higher than that which will be paid in future) is 8th August 1952. In the Chinese Calendar this date is miraculously beneficial and seen as the epitome of luck. To explain:

•  The most important year in the Chinese Calendar is the Year of the Dragon. This is a year that brings luck and beneficence to all those born under this year. 1952 was a Year of the Dragon so the last people eligible for the old Superannuation benefit are those born in 1952.

 The last date of eligibility under the old (and better) system is 8th August 1952 - 8/8/1952. In Chinese mythology the number 8 is the luckiest number and one that Chinese people pay disproportionate amounts for house numbers, car license plates and basically anything that has the number 8 in it. This auspicious date is the 8th day of the 8th month in the Year of the Dragon. More significant still is the year - 1952. Numerology breaks this down to 1+9 =10 =1 plus 5 + 2 = 8.   ........."

Whew!

That's going to be lucky. I'm glad that I was born on 8th August 1952. I do feel sorry for anyone born later though..