A bill proposing a stricter NZ superannuation has passed the first hurdle in Parliament.
The NZ First Member’s Bill would mean migrants to New Zealand would have to wait longer for superannuation.
The New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill passed its first reading on Wednesday.
If passed, the bill, proposed by NZ First MP Mark Patterson, would raise the minimum residency for super from 10 years to 20 years, after age 20. …
“Currently, a migrant of just 10 years’ residency in New Zealand is entitled to full NZ Super without any requirement to contribute to the economy. This would also apply to an expat Kiwi who left New Zealand at age 25 and returned at age 60 after spending 35 years contributing to another economy,” Patterson said.
The current coalition agreement with NZ First means Labour is committed to leaving the age at which people qualify for NZ Super at 65.
While National supports the bill, Labour has not committed to it.
I think 10 years is too short a period of residency to qualify for NZ Super. 20 years seems fairer to me.