20 years residency before qualifying for superannuation

Stuff ?reports: quote.

A new Member’s Bill could mean migrants to New Zealand are waiting longer for superannuation.

The Bill, proposed by NZ First MP Mark Patterson, could raise the minimum residency for super from 10 years to 20 years.

The New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill?was drawn from the ballot on Thursday. end quote.

For once, New Zealand First has done something that I totally agree with. We always say that superannuation is not a benefit, but repayment for years of hard work and paying taxes. Allowing migrants to qualify after living here for a mere 10 years makes a mockery of that belief. quote.

In 2016, the Retirement Commissioner? Diane Maxwell recommended that residency for super?increase to 25 years.

In a report, Maxwell said the change would make New Zealand on par with other countries.

Patterson’s Bill could make the cut if he can gain support from other political parties. end quote.

I doubt if the Greens will support it, but National might. If NZ First can get Labour on-side as well, this could actually pass through parliament and become law. Hallelujah. quote.

The minimum residency age would apply only after the age of 20, which meant a childhood in New Zealand would not count towards superannuation eligibility. end quote.

Even better – although probably not terribly relevant. This is the first piece of sensible legislation that we have seen proposed since… well, September 2017. quote.

The previous National-led government had proposed increasing the minimum residency requirement to 20 years before it was voted out of power. end quote.

So, with luck, it will be passed then.

Good on Mark Patterson (I hate to say it, but I’ve never heard of you before now, but good on you anyway) for proposing this bill. It makes total sense. New Zealand taxpayers are being fleeced from every direction these days, even more so than before. It makes a change to find a government policy that is likely to pass into law that is NOT going to rip off the taxpayer even further.

Let’s see how it goes through the submissions and select committee processes though. If the Labour arm of the government doesn’t like it, then the submissions period will be truncated and the select committees will be loaded with people who want to give money away without consequence. That is what they are doing with the oil and gas bill. That is what this government is capable of.

That is what an ‘open and transparent’ government looks like; but let’s hope it won’t happen this time.