Kiwis overseas could miss out on NZ Super under proposed law change

NZ Superannuation residency requirements
There are 760,000 people collectively receiving $13,699 m a year in NZ Super. (Photo supplied)

Oz Kiwi Opinion

New Zealand First MP Mark Patterson has proposed raising the minimum residency requirement for NZ Super from 10 years to 20 years after age 20.

New Zealanders living in Australia should not be affected by the proposed changes to NZ Super residency requirements. New Zealand and Australia have a Joint Social Security Agreement. You can use time spent as an Australian resident between the ages of 20 and 65 to count towards the residency period for NZ Super. You will, however, be required to meet the higher of the two countries eligibility age.

We are still waiting to see the full details of the NZ Superannuation and Retirement (Fair Residency) Amendment Bill. Read details of the Bill or subscribe to receive alerts as the Bill progresses in Parliament.


Kiwis overseas could miss out on NZ Super under proposed law change

23 October 2018

John Anthony – Senior Business Reporter, Stuff

Kiwis living overseas will be impacted by a proposal to increase the minimum residency requirements for New Zealand superannuation.

Mark Patterson’s Members’ Bill – named the New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill – was pulled from the ballot box at Parliament House On Thursday.

Residents aged 65 years or older are entitled to NZ Super payments. To be eligible under current law they must have lived in New Zealand for at least 10 years since turning 20. Five of those years must be since turning 50. [Note: does not apply if residing in a country that has a Joint Social Security Agreement with New Zealand, such as Australia. You will, however, be required to meet the higher of the two countries eligibility age].

Patterson’s Bill proposes to change a clause in the New Zealand Superannuation and Retirement Income Act that would raise the minimum residency requirements for NZ Super from at least 10 years to at least 20 years after age of 20.

[Read the full Stuff article].

Related

Australian Aged Pension and NZ Superannuation
Joint Social Security Agreement FAQs
New Zealanders receiving payments in Australia

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