The Social Services Committee of Parliament initiated in late 2012, a briefing into pension eligibility and entitlements for overseas pensions, and the application of section 70 of the Social Security Act.
The matter concluded with The New Zealand Labour Party, the Green Party and New Zealand first of the view that the information placed before the committee, warranted an inquiry. The majority of the committee, Government members, while sympathetic to the anomalies in the system, decided not to initiate an inquiry, specifically citing financial restraints as one of the factors in their decision
On June 6 2012 the Retirement Policy and Research Centre of the Auckland business School held a forum “Overseas Pensions: Justice Delayed”, looking at the consequences of the current policy and discussing possible fairer policy options. Over 64,000 persons are affected by the current policy, the majority being from the United Kingdom, Netherlands and Australia. The majority of the forum audience and speakers appeared to agree there was a number of problems with the current policy, and various options were discussed. The issues of what changes and how best to advocate solutions, covered possible class action to continuing lobbying and education on the matter.
This issues clearly shows inequity and unfairness, probable inconsistency in the current application of the Policy, unfortunate spousal issues, which need rectifying now and a review of the policy is overdue!
Alec Waugh
Chairman Kaspanz
Thanks for the post – we hope that everyone confronts this discrimination against migrants and their kiwi spouses wuth every ounce of energy they can muster.
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Why wasn’t the issue of overseas pensiond raised during the recent Financial
Literacy Conference? Amongst the submissions for issues to be selected for this conference, there were a couple which dealt specifically with the anomalies of overseas pensions,but they were not chosen.
With so much emphasis on NZers needing to prepare for their financial security in their retirement, why is the large group of those who have already done that, being so unjustly penalised through having a workplace pension from another country?