6 May 2015

Better pension portability for the Cook Islands, Niue and Tokelau

Social Development Minister Anne Tolley welcomed the progress of a bill to extend access to New Zealand Superannuation and the Veteran’s Pension to those living in the Cook Islands, Niue and Tokelau after it passed its second reading.

"This will mean people will be able to depart New Zealand to live in the Cook Islands, Niue or Tokelau after the age of 55 and apply, without returning to New Zealand, for their super once they turn 65,” says Mrs Tolley.

At present, eligible New Zealanders can receive their New Zealand Superannuation or Veteran’s Pension in the Cook Islands, Niue or Tokelau under the Special Portability Arrangement. However, under the Arrangement they must be ‘resident and present’ in New Zealand on the date of application for either of those payments.

“This Government wants to ensure that those countries and territories New Zealand has close constitutional ties with are recognised and that their on-going economic and social viability is supported.

“Many Cook Islanders, Niueans and Tokelauans acquire valuable skills in New Zealand which can be of significant benefit to their home countries,” says Mrs Tolley.

“Depopulation, and its related social and economic consequences, is a long-standing issue for the Cook Islands, Niue and Tokelau. The Bill will allow people to return to these islands and contribute to the local workforce for up to ten years before applying for New Zealand Superannuation.”

People will still need to qualify for New Zealand Superannuation. They must have been ‘resident and present’ in New Zealand for 10 years since the age of 20 - including five years since the age of 50.

ends

© Scoop Media