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Changes to NZ Super for residents

Changes to NZ Super for residents

Old Jan 23rd 2021, 9:19 pm
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Default Changes to NZ Super for residents

The powers to be are looking to change the time frame from 10 years residency to 20 to be eligible for NZ Super.

It appears it will affect all residents, no matter when they arrived here, if I have read the article below correctly.

There is none of this ‘arrivals into NZ from April 2022 onwards will need to be resident for 20 years (not the current 10) to get NZ super’. If the Bill comes to pass it will take immediate effect!! That means some people who are actually currently getting NZ super will have it stop being paid to them until they have reached the new proposed 20 year requirement.

The Bill has passed it’s first reading.

https://www.interest.co.nz/personal-...rease-nz-super

Last edited by Genesis; Jan 23rd 2021 at 9:23 pm.
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Old Jan 24th 2021, 12:47 am
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Default Re: Changes to NZ Super for residents

Hard not to agree with everything in that article
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Old Jan 24th 2021, 3:07 am
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Default Re: Changes to NZ Super for residents

No need for concern if you are from UK, Ireland, Canada or Aussie.

Immigrants from Australia, the United Kingdom, Ireland, Canada, the Netherlands, Denmark, Greece, Jersey and Guernsey, as well as New Zealanders who have lived in these countries, would be exempt. Social Security Agreements New Zealand has with these countries mean time spent there is considered time spent in New Zealand.

Last edited by Bo-Jangles; Jan 24th 2021 at 3:10 am.
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Old Jan 24th 2021, 3:15 am
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Default Re: Changes to NZ Super for residents

Originally Posted by Bo-Jangles View Post
No need for concern if you are from UK, Ireland, Canada or Aussie.
Indeed, my friend who is a U.K. expat has just drawn this paragraph in the article to my attention.

I still think it is unfair and it should be for residents arriving after a certain date in the future, not back dated. People may well have based this 10 year thing in their fiscal planning. It seems grossly unfair to take back an offer that was on the table. Yes, it is a very generous short period, one decade, but no one made NZ super do this against it’s own will eh?
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Old Jan 24th 2021, 3:21 am
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Default Re: Changes to NZ Super for residents

I know about the Aussie side as I checked before I moved to Nz even though I'm a little bit away from retiring, it's been thrown around for a while.

I agree with you Genesis, backdating is unfair.
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Old Jan 24th 2021, 7:55 am
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Default Re: Changes to NZ Super for residents

Seems grossly unfair
It passed it's first reading in July and is now with the select committee with a report being made ready for a second reading in March this year.

I'm not at all surprised to see it was proposed by my neighbour, former NZ first list MP and chief Winston lackey Mark Patterson. A man who in the past has flirted with all the main party's in his desperation to be an MP.

Last edited by Justcol; Jan 24th 2021 at 8:20 am.
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Old Feb 20th 2021, 4:52 pm
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Default Re: Changes to NZ Super for residents

Can anyone explain which pension types are being used to deduct amounts from NZ super for UK expats as mentioned in this article. Excuse my ignorance, but what are tier 2 pensions? https://i.stuff.co.nz/business/12419...-in-parliament
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Old Feb 21st 2021, 2:32 am
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Default Re: Changes to NZ Super for residents

Originally Posted by Daisy616 View Post
Can anyone explain which pension types are being used to deduct amounts from NZ super for UK expats as mentioned in this article. Excuse my ignorance, but what are tier 2 pensions? https://i.stuff.co.nz/business/12419...-in-parliament
I just read it and am not sure what the issue is. There again I am very tired today. If you live in NZ for ten years then you can claim NZ super upon retirement age. If you woild be entitled to the UK state pension then you can choose to have that instead You cannot have both.
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