FYI.

This story is over 5 years old.

Money

"Slaves to the Machine": We Asked Millennials What Life Will Like Be in 2040

New Zealand's babyboomer Prime Minister has signalled a rise in the superannuation age, so what does it mean to those most affected?

With rising automation, a looming climate-apocalypse, and the hopes of early retirement slipping further over the horizon, the workplace future can look grim for New Zealand's millennials. This week Bill English announced his intention to lift the age for universal superannuation from 65 to 67. So as boomers relax into the promise of a safe (and imminent) taxpayer-funded retirement, we asked the young folk what genre of gloom they're forecasting for the 2060s.

Advertisement

SCOTT, 28
Events manager

For you personally how do you foresee people going to be able to keep working until their late 60s?
I will not be working in my 60s, although I do empathise with those that will be. I feel like it will be a hard ask to work in your 60s if you are not already set up in a great organisation. The world has changed a lot from when these people were in their 20s and I struggle to think how they will adopt and keep up with new technology and a new society that blossoms from it.

Do you think the changes to superannuation make sense as we are living longer? Or do you think it will unfairly disadvantage young people?
I do think it makes sense, but it also makes sense to use some of this money saved to put into community programs to empower people on how to save and set up for retirement.

Are you nervous about it?
Rather than make me nervous this has made me more motivated to save for retirement earlier and invest.

What can you imagine doing for that long?
Nothing, fuck that! Cue self-entitled millennial argument. Also cue, this is what you fuckwits told us we could do "you can be anyone you want to be!"

What will the world look like in 2060? Ready to break. Closed borders everywhere, increasing territories of religious war

SAM, 24
Student

Do you think the change to how late retirement makes sense?
I guess so, yeah. It is also dependent on the amount of jobs that are available, and if people are working longer will that affect the younger work force? All and all obviously nobody wants to work their whole life, nor should they have too.

Advertisement

Are you nervous about having to work longer in theory?
I guess so, I'm currently studying so not in any workforce at all, therefore it doesn't affect me so much. I do have Kiwisaver, which helps, I don't contribute to it too much but it helps ensure a little less stress later.

Are you nervous about getting a job after your study?
Not really at the moment, but the employment climate at the moment in NZ is so bad, and so is the tax climate with regards to student workers, or those who have just graduated, or those low income earners. I feel like because I am studying art I will always be in that bracket.

Do you think in 2060 their will be more automated jobs?
Yeah I believe we will play more of a supervisory role. There will be more of a capitalistic intent with a focus on maximising output. Probably be slaves to the machine.

SINEAD, 22  
Student

How do you think the later superannuation will effect people working later into their 60s? 
Personally I have been quite active, love my independence and have always enjoyed working for my own money. I get personal enjoyment out of that, so when I get to that age I couldn't imagine wanting to slow down and retire early. I think I will be ready at the increased age of 67.

They say 60 is the new 40, do you believe people can work a bit longer? 
Yeah absolutely, we have better health and medicine, a longer foundational lifespan as humans anyway. We hit middle age a lot later as you suggested. Therefore I think an older superannuation makes absolute sense.

Advertisement

Given how young you are, does it make you nervous thinking about working longer? 
I can't wait to finish student life and get into the workforce. As stated I enjoy work, it gives me drive, so I don't have a problem with the idea of working longer.

Is there a particular path or occupation you can see yourself doing for that long? 
Probably not building, I think it's dependent on the occupation. Longer hours on the feet for males obviously affects things. My partner who does roofing wouldn't want to be on the roof at 67, without much stability.

You are at university now, how hard do you think it's going to be to find a job after you graduate? 
Most of us have to start looking now, in your first and second year you need to be doing internships and networking and increasing your profile.

ARTUR, 25
Digital marketing co-ordinator

How do you think people are going to be able to work into their later 60s?
I think in order to ensure people are able to do that the Prime Minister needs to invest a lot more effort into structuring health care systems that can keep people healthy up to the age of 67. If that is not plausible then the superannuation age should not rise to that.

Do you think the changes in the superannuation make sense if people are living longer?
I think they do make sense because the age of people dying in NZ is increasing, we are catching up to countries like Japan. I don't necessarily think that currently these ages should be increasing at the rate they are now, because our healthcare system can't keep up with increasing rates.

Advertisement

Are you nervous about having to work to that age?
I am hopeful they will invent a pill soon which reverses aging. Currently I don't think working at this rate up until I'm up to 75 is something I want to do.

Do you think about it now though?
Not really, No.

What occupation could you imagine doing to that age?
Coalminer.

Do you think its hard to find work right now?
No I think because I was set with a set of skills, but our educational system needs to develop a lot so that people don't get lost in the cracks.

What do you think the world will look like in 2060?
Hopefully Trump is dead.

KELSEY, 20
Student

How do you think people will be effected working that late into their 60s?
I think people are working later and later now anyways, because people are healthier longer generally speaking. It feels like a necessity, because NZ has such an aged population already so by the time I am in my 30s and 40s there will be such a massive proportion of the population who are in their late 60s and 70s who are needing this superannuation fund. In order to keep supporting them, we need people to keep working longer and longer.

So you think the changes to the superannuation make sense because we are living longer?
I wouldn't say its a good change, its definitely not what we want or what people would prefer but because of how the country has been run in the past with superannuation being available for everyone. I just think its a necessity because otherwise we wont have the means to support an ageing population.

Advertisement

Are you nervous about having to work that long in your lifetime?
Yeah absolutely no one wants to work that late in their life, and Ive also come to terms that I will most likely have to support myself through retirement with Kiwisaver. I believe this is what the Government wants, because its not feasible for me to imagine being supported through a superannuation fund as big as their is at the moment when I am that age.

is there a particular job you can imagine doing for that length of time?
I think I'll be fine when I am young and will do a job I like, and when I become that old I will adapt and become a relief teacher, or work at the library. I think older people should go into less strenuous jobs unless you are incredibly good at what you do, and you love it.

As a student are you concerned about graduating and how hard it will be to find a job?
Yeah definitely! Everyone is concern about that, its about making sure you are the person who gets the role. Which requires an exorbitant amount of self confidence, who you know, how you present yourself. It sounds easy in theory, but probably wont be.

What do you think the world will look like in 2060?
It will be very different, the next 10 years we will see a shift toward younger more liberal politicians like Jacinda Arden and Chlöe Swarbrick, hopefully that shapes that path for New Zealand to adapt to changing times.

Words by Thom Simmons.