With the coronavirus spreading to more countries around the world, including the first reported case in Latin America, the escalating health crisis is starting to eat into the savings of millions of New Zealanders.
However, even with worldwide markets continuing to tumble amid COVID-19 nerves (something US President Donald Trump is reportedly furious about ), Kiwis are being told not to panic if their superannuation fund is taking a hit.
Experts say the economic dip is unlikely to have a long-term impact on KiwiSaver, but they do say anybody who’s close to retirement and about to access their funds should take advice.
And while we’re talking nest eggs, RNZ’s Checkpoint has reported that the number of retirees getting their superannuation while also earning more than $100,000 has reached 30,000 – a number that’s tripled over the past decade. While some economists say those stats suggest pension payments should be means tested, others argue Super needs to remain universal.
Sign up to get the Morning Briefing delivered direct to your inbox - here.
Lotto rolls over to record prize
Following a frenzied day of Lotto ticket-buying (with queues out the door at New Zealand’s “luckiest” shop in Hastings), Lotto’s Powerball has rolled over again, with a must-win prize of $50 million now up for grabs on Saturday. If that prize falls to just the one person, it will become the country’s largest ever Lotto win.
This most recent run on tickets has had some asking if Lotto is a gateway to more harmful gambling. Hāpai Te Hauora Māori public health chief executive Selah Hart told TVNZ 1’s Breakfast yesterday that Lotto is a form of gambling that’s become normalised in New Zealand. Ms Hart also said the Gambling Act of 2003 was “pretty stagnant” and suggested some reforms should be looked into.
Water woes
The water shortage in Northland has reached crisis point with fears taps in the area could soon run dry. The New Zealand Defence Force has been drafted in to help deliver water to the region, however residents are still being urged to cut their water usage by 25 per cent – a target many towns have yet to meet.
With more warm, dry weather forecast, Auckland’s water company Watercare is also calling for people to think before running their taps, while Wellington is still facing water woes of a different kind as the city’s councillors vote to expand Mayor Andy Foster’s proposed taskforce to tackle the issue.
Treating the burns of Whakaari
When Whakaari/White Island tour guide Kelsey Waghorn shared a video of herself walking again this week, it was the latest milestone in a long, painful recovery following December’s deadly eruption. As she and other survivors of the tragedy continue their recovery, New Zealand doctors and scientists are now working to change the way we deal with severe burns cases.
Abbey Wakefield has spoken to those at the forefront of these changes in this in-depth feature , which looks at how surgeons approached the enormous task of treating Whakaari’s victims and how scientific advances could one day eliminate the need for using anyone’s skin during such procedures.
Other news of note this morning:
Green Party MP Golriz Ghahraman has revealed she has multiple sclerosis (MS).
The disputed land at Ihumātao has been granted the highest level of heritage recognition by Heritage New Zealand.
CNN pundits have described the latest Democratic presidential debate in South Carolina as ‘messy, chaotic and embarrassing’.
The continued summer heat is bringing change and challenges in pest control, according to the Bay of Plenty Times – but probably not as challenging as the thousands of wasps recently discovered in the walls of a Huntly home.
And finally...
Just call him Harry.
The Duke of Sussex has used his appearance at a sustainable tourism event in Scotland to further underscore his break from the British monarchy, saying there’s no longer any need to refer to him as sir or his royal highness.
SHARE ME