Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Overseas Pension Holders Deserve Justice

Rt Hon Winston Peters

New Zealand First Leader
31 JULY 2014

Overseas Pension Holders Deserve Justice

New Zealand First considers New Zealand's treatment of overseas pensions a travesty, says New Zealand First Leader Rt Hon Winston Peters.

Despite a universal and non-means tested NZ Super, one segment of the eligible population are being penalised through Section 70 of the retirement legislation, says Mr Peters.

“These people who have worked in countries such as the UK, Netherlands, Canada and Germany and who have contributed to a state pension are being treated as second-class citizens in respect of entitlement to NZ Super.

“The current rules are unfair to a large number of superannuitants who have their contributory overseas pensions confiscated from their NZ Super.

“People arrive at retirement age with income and assets from a variety of sources. Why then is only one group being penalised, in terms of entitlement to NZ Super, because they have a state pension from certain countries?” says Mr Peters

Section 70 affects about 65,000 migrants, most of whom have lived and worked in New Zealand for up to 30 years. However, the fastest growing group are baby boomer Kiwis now applying for their NZ Super, who spent some years working overseas, he says.

“Take for example a successful Kiwi who spent 12 of his younger years working in Germany. During his OE, he contributed 9 per cent of his income to the compulsory German pension scheme. Other than these 12 years, he has spent his entire life working in New Zealand. Now his entire contributory German pension is confiscated from his NZ Super - an amount equivalent to 90 per cent of NZ Super.

“This case is typical of the selective and discriminatory legislation being applied to NZ Super.” says Mr Peters.

The National Government insists on a gross double standard, he says.

“New Zealand First has repeatedly highlighted the gross injustice of Section 70 compared to migrants from non-state-pension countries who get full NZ Super after just 10 years residency in New Zealand.

“Those who enter under parent reunion have no requirement to contribute to the economy. This is equivalent to a lump sum gift of about $400,000 over a person’s average life expectancy. And their private savings are not touched.

“New Zealand First will make fair treatment of overseas pensions a key issue in the upcoming election.

“Last year the government voted down a review of overseas pensions at the select committee stage. We will support a change to Section 70 which will give all those so adversely affected by Section 70 a fair outcome,” says Mr Peters.

New Zealand First has a dedicated email, section70@nzfirstparty.org.nz for those affected by the deduction of their overseas pension from NZ Super.

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

'Tea Break Bill' Passes: Gordon Campbell On Bad Labour Laws And Poor Safety

By co-incidence, one of the prime dangers of the government’s new employment relations law has been underlined by the release of the death and injury statistics among workers at New Zealand ports. These are highly profitable enterprises for the port owners.

The Port of Tauranga for instance, is expecting its current full-year profit to be between $78 million and $83 million and other ports are enjoying similar boom times – but they are also highly dangerous places for the people who work on or around the port premises. At the Port of Tauranga, there have been 26 serious accidents since 2011, and two deaths. More>>

 

Parliament Today:

No Charges: Outcome Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area... More>>

ALSO:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news