Pension changes could hit migrants hard
Auckland University’s Centre for Retirement Policy Research prepared a document for the Commission for Financial Capability, as part of the Retirement Commission’s review of retirement income policy.
In it, it suggests extending the residency period required for eligibility for the pension to 25 years, from 10 years at present.
Researchers Susan St John and M Claire Dale said New Zealand’s 10 years was short by OECD standards, where the average is 26 years.
“This easy access to an age pension is particularly attractive to citizens of countries without such pensions, with the added advantage in New Zealand of access to emergency support in the years prior to meeting the residency qualification.
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