The Eldernet Group is throwing its support behind Retirement Commissioner Jane Wrightson’s call to keep NZ Super’s age of eligibility at 65. We also agree that an increase to the asset limit for the accommodation supplement is well overdue, as the current limit of $8100 means only a handful of the many thousands of people needing help paying for housing costs are eligible.

While many people reach 65 with enough money to live in reasonable comfort in their later years, it certainly is not the reality for everyone. We have conversations every day with people about the financial struggles they, and their loved ones, face as they get older, such as the rising costs of day-to-day necessities like food, petrol, and power; the decreasing rates of home ownership and the increased cost of rent; and the inability to have anything ‘leftover’ in case of emergencies. It’s a sad situation, yet one that is becoming more and common for people across the country.

Moving the age of entitlement by even a couple of years (as proposed by previous Retirement Commissioners) would only exacerbate what is an already tough situation for many older people, and inflame inequalities that we are already seeing, particularly among women and our Māori and Pasifika communities.

Keeping the current age of NZ Super entitlement at 65 and increasing the asset cap on the accommodation supplement may not be a silver bullet but it at least acknowledges the growing discrepancy between the haves and have-nots.

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