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Pension Theft Accounts for Almost 1/2 of National's Surplus

Pension theft accounts for almost half of the National Party’s Posted Surplus 2017

The National Governments recently released a 3 year surplus of $3.7B.

It should be pointed out this surplus includes $1.5B (500 Million/annum) of stolen Kiwi and immigrants overseas pension funds under the guise of Section 70 (S70). S70 is responsible for removing any overseas pensions to subsidise the NZ superannuation.

European Convention 1408/71 Article 46 specifically prohibits nations from consuming age-pensions earned in any other countries. These principles of international social security are honoured around the world - except by New Zealand.

The Ministry of Social Development (MSD) who are responsible for the removal of such pensions (of both returning kiwis and Immigrants) do so fraudulently by forcing all these individuals to set up bank accounts in their own name, having their pensions deposited in these accounts and then denying any access by the account holders to any of the funds.

MSD are constantly attempting to change the description of overseas pensions to justify their actions. For example MSD claim the UK pension is a government run pension scheme when in actual fact there is no participation by the UK government or contribution by them.

MSD recently attempted to call the UK pension scheme a TAX, NZSP have a letter dated 25th October 2016 from the UK Minister of Treasury responsible for this policy area, stating categorically the UK pension is NOT A TAX and is administered by the National Insurance Fund (NIF).

Contributions to the Nation Insurance fund are generated from employee wages with a similar contribution from the employer. With no Government inclusion, the UK pension fund is NOT covered by New Zealand’s Section 70. Even so MSD continue to defraud immigrants and returning Kiwis of their pension funds from the UK, as well as many other countries.

Information released under the Freedom of Information Act outlines the UK pension scheme the NIF bears little or no resemblance to the NZ Super Fund, and therefore MSD has no rights to these funds.

For the National Government to claim such a surplus as accrued by their actions, when nearly 50% is acquired from stolen funds is a disgrace by the current NZ government. It is incomprehensible and immoral and has no justification for MSD to continue to stealing pensions from returning kiwis and immigrants to use to justify a Government surplus.

It’s time all New Zealanders and immigrants banded together to right this wrong which is forcing many pensioners to live below the bread line when at their time of life they should be stress free and enjoying their retirement.

Join the New Zealand Seniors Party(NZSP) and stop this theft. Together (89000 immigrants and 75000 kiwis) can make a significant difference in the forthcoming elections.

Make your vote count and hold the next government accountable to all kiwis.


Facebook: New Zealand Seniors Party


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