viv jones

Can anyone tell me when or if you can qualify for receiving a NZ state pension as an immigrant. I assume you need to have paid a certain amount in for a number of years? Maybe they don't have state pensions....they have the Kiwi saver but surley that is extra?
We are in NZ on a permanent skilled migrant visa arriving in our 40s having paid into the UK system since leaving school. I know that our UK teachers pension is now frozen and can be accessed when I am 65 or transferred over but I assume I get no state pension from the UK. But surley if I work in the NZ system for the next 20 years I would qualify for their state pension? Thanks

bga

as far as I am aware you have to pay into the NZ fund for 10 years to be eligable for a full pension, thats what i've been told anyway but not looked into it in any great depth

Genesis

It is simple. I did a thread about this a few weeks ago by coincidence. If you have been in NZ for more than 10 years AND you have PR AND 5 of those 10 years are spent AFTER you are 50 you will get a full NZ state pension. Regardless of what you have earned or not earned. I think the sums are roughly $19 if there's just one of you and C$28k for a couple. That is what I was reliably informed.

viv jones

Thanks for the replies. As I was writing it I was thinking Genesis will know the answer!!!! Thanks

viv jones

While you are there Genesis!......I can access my teachers pension from the UK after 65....tap into the NZ one as long as I hit the criteria you state but cannot have a UK state one? I guess the years I paid into that are swapped for the NZ state one.......
Have I got it!?

Robbie2010

Most of what you need to know here ... http://www.workandincome.govt.nz/ind...ion/index.html


You still claim your UK state pension and that will be deducted from your NZ entitlement.

Genesis

Yip that is more or less it. I think you have the choice to go for either the UK state one or the NZ state pension. If you opt for the latter the NZ pension dept claw back from the Uk what you would have got. Think its reciprocal. By the way just incase you did not know (I didn't) any income sourced from the UK like your teacher's pension (even if it stays there) is taxable if you are resident in NZ. A mate of mine is paying back 5 years of tax as he was unaware re the pensions being taxable here and I had to back pay 3 years tax on UK earnings as I did not find out that info until 3 years in. Alas ignorance is not innocence and I had to cough up. When asked why I bothered 'fessing up, well we all know if you don't play ball you are likely to get caught eh? By the way any tax paid in the UK on any earnings is deducted from your NZ tax bill...you won't get done twice!!

Genesis

I was told you get it irrespective of having paid into the system or not so long as you have been here the 10 years etc. Can someone confirm this please?? it sounds right aye otherwise someone who has spent all his/her life at home caring for kids etc would not be eligible for an NZ pension

Genesis

Just googled it. It is as I thought. You do NOT have to have paid into the system. By the way the claimant age is 65 in NZ.

viv jones

Mmmm interesting re the tax issue.....out of interest would I be taxed on it as an income when I retire if I was in the UK?

bga

how does this fit in ??
http://www.ird.govt.nz/yoursituation...reign-inc.html

viv jones

Good site and I'm sure will of use to others too
Thanks

Leither

Yes you would. When you are aged 65 or over, your personal allowance increases to £9,860 (it may have changed in the budget) and you pay tax on anything above that amount, although you wouldn't pay NI.

If your income exceeds £22,900 (again it may have changed) then for every £2 it exceeds it, they will take £1 of your personal allowance.