Have your say on proposed changes to Superannuation
(Headline abbreviated, original headline: Have your say on the proposed changes to New Zealand Superannuation and Veteran’s Pension)
The New Zealand Superannuation and Veteran’s Pension Legislation Amendment Bill proposes to amend five different pieces of legislation. This type of bill is known as an omnibus bill, which can propose changes to multiple Acts if the changes deal with an interrelated topic and implement a single broad policy.
The single broad policy for this omnibus bill is to modernise and simplify New Zealand Superannuation and Veteran’s Pension, which both fall under the topic of social assistance for older people.
The five Acts that the bill seeks to amend are:
• New Zealand Superannuation and Retirement Income Act 2001
• Veterans’ Support Act 2014
• Social Security Act 2018
• Income Tax Act 2007
• Tax Administration Act 1994
The bill aims to amend how entitlements are assessed, specifically by shifting the assessment of entitlements towards an individual basis. This is intended to simplify the current law which involves a Spousal Provision, whereby an individual’s entitlement is affected if their partner has an overseas pension. This means that this class of people will no longer have their assessment affected by the circumstances of their partner. The bill also seeks to improve consistency across the current legislation.
Tell the Social Services and Community Committee what you think
For more details about the bill: