National's decision to support the NZ Superannuation Fund is long overdue.

While it could be construed as National running up the white flag on this issue, it is more a sign of pragmatism within the party.

National knew it couldn't win a debate on this one and it has essentially decided to neutralise a potential conflict point during next year's general election.

It's also a sign that its finance spokesman John Key is getting some traction within the party.

Pre-funding is a sensible option. It is supported by the IMF and a growing number of countries are adopting this approach.

It's interesting to note that recently Australia said it was going to set up a similar fund - The Future Fund - to partially prefund part of the state's future pension liabilities.

What is interesting across the Tasman, besides having a far more imaginative name for their fund - is the fact that there is bi-partisan support on the concept from day one.

To me that shows a far more enlightened approach from their politicians than the petty approach which our representatives have shown to this topic over the years.

Perhaps the most interesting point of Brash's speech was his comment that National would like the Retirement Commission to engage in a conversation with New Zealanders on the subject.

It seems to me that the commission has been doing a pretty good job on a very limited budget in this area over the years.

Perhaps what would be more useful is allowing the Commission to have a conversation with the government. Currently it has no official role into the policy making area, but in my view it should be a key player in helping shape policy in this crucial area.