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Drain on superannuation ignored

Denis O’Rourke – 

The government has ignored their appointee, Retirement Commissioner Diane Maxwell, who voiced serious concerns on immigrants’ getting full New Zealand Superannuation.

Despite the Commissioner’s view that New Zealand should be ‘lifting the bar for immigrants,’ making it more appropriate and fairer to the NZ taxpayer, the government is not backing her.

When questioned in Parliament, Commerce Minister Paul Goldsmith said that the Commissioner worked independently.

No commitment

“There was no commitment to changing the law that allows immigrants, at 65 and after only 10 years living here, to obtain full NZ Super, on the same terms as a Kiwi who has lived and paid taxes here for 45 years.

This is a huge cost to the taxpayer and unfair. New Zealand First understands this and wants to change NZ Super eligibility to be based on the number of years a person has been living in New Zealand.

In the last 15 years, about 79,000 immigrants over the age of 50 have gained New Zealand residency. About 3000-5000 every year enter under parent reunion categories from countries with no pensions.

Changing criteria

For these reasons, New Zealand First’s New Zealand Superannuation and Retirement Income (Pro Rata Entitlement) Amendment Bill will change residency requirements for full NZ Super, making it a fairer system for all.

Under the pro-rata system proposed by this Bill, a resident of 10 years would get 10/45th of NZ Super, based on residency between age 20 and 65 (45 years). A resident of 35 years would get 35/45th of NZ Super.

The Bill came up for First Reading in Parliament on August 26 presenting a crucial opportunity for a much needed and long overdue debate on NZ Super.

Denis O’Rourke is Member of Parliament on NZ First List and is the Party’s Spokesman on a number of issues including Attorney-General, Christchurch Earthquake, Climate Change, Constitutional Review, Housing, Justice, Environment & RMA, Transport and Security Issues

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