New Zealand Immigrant superannuation changes not required says, immigrant advocacy group
Posted on September 11, 2017
Changes to New Zealand Immigrant Superannuation eligibility rules by New Zealand First are not required according to an immigration advocacy group. The leader of the New Zealand First party Winston Peters said that 87,000 people are receiving complete superannuation. However, they have lived in the nation for less than 15 years, added Peters.
Winston Peters announced a policy for immigrant superannuation eligibility rules that would increase the minimum time needed for Immigrants to live in New Zealand to 25 years before they receive superannuation.
New Zealand Association for Migration & Investment said that the current immigrant superannuation eligibility rule of 10 years is appropriate. It said that these immigrants are Working in New Zealand and contributing to the development of New Zealand’s economy. Thus they are receiving superannuation benefits after 10 years. There is no justification for changing the current rules, said the immigrant advocacy group as quoted by the Radio NZ Co NZ.
However, Winston Peters said that the current rules are not fair for taxpayers. Individuals who begin to work at the age of 15 collect superannuation at the age of 65 years. This means that they have paid for it for 50 years before they begin to receive the benefits, added Peters. He said that increasing the residency rule for 25 years is not a bad thing at all.
Both the Association for Migration & Investment and Winston Peters said that the issue of dual nationality superannuation needed further scrutiny by the government. In this case, individuals are entitled to multiple pensions from diverse nations.
Immigrants have never enquired in the past 26 years regarding superannuation benefits said, a leading immigration professional in New Zealand.
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