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NZ First to Move Superannuation Bill in Parliament Today

Rt Hon Winston Peters
New Zealand First Leader
Member of Parliament for Northland
7 MARCH 2017

NZ First to Move Superannuation Bill in Parliament Today

NZ First will today ask Parliament to back its bill which increases the residency rules around NZ Superannuation from the current 10 years to 25 years.

“We know the issue of residents arriving here, many as parent-migrants, who get full NZ Superannuation after just ten years goes to heart of its affordability,” says New Zealand First Leader and Northland Member of Parliament, Rt Hon Winston Peters.

“New Zealand First’s New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill does something about it. This Bill in the name of Denis O’Rourke will raise residency to 25 years, five more years than what the government is proposing, but if it was backed to a Select Committee then it could be implemented from 1 June 2017.

“Mr O’Rourke’s Bill also abolishes the direct deduction of overseas pensions by the Government and other inequities by repealing Section 70. Doing this not only contributes to the sustainability of New Zealand Superannuation but is fundamental fairness.

“The ball is now in the government’s court as we have the Bill but do they have the will?,” says Mr Peters.

ENDS

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