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FSC welcomes super move

Wednesday, March 8th 2017, 9:26PM

The Financial Services Council has described NZ Super eligibility changes proposed this week as "good policy".

Chief executive Richard Klipin said increasing the pension age to 67 by 2040 made sense, as did the requirement that migrants were resident for 20 years.

He said demographic changes, as well as advances in healthcare and medical technology, meant life expectancies were increasing.

“These are tough issues to manage,” Klipin said. “The nature of work, health and retirement are major issues facing governments and policy makers across the globe. Getting policy settings right, increasing financial literacy, and helping people make quality decisions about savings, investments and lifestyle in retirement are key for the New Zealand community.

"We look forward to contributing to this debate in the lead-up to the election and beyond."

Tags: FSC

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.99 5.29 5.49
ANZ Special - 4.49 4.79 -
ASB Bank 5.80 4.99 5.14 5.49
ASB Bank Special - 4.59 4.74 5.09
BankDirect 5.80 4.99 5.14 5.49
BankDirect Special - 4.59 4.74 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.19 5.49
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 5.25 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp ▲5.79 ▲4.99 ▼5.14 5.49
HSBC Premier 5.79 4.19 4.39 4.89
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.70 4.59 4.69 5.09
Kiwibank 5.55 5.09 5.19 5.65
Kiwibank - Capped - - - -
Kiwibank - Offset 5.55 - - -
Kiwibank Special - 4.69 4.79 5.25
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
NZ Home Loans 5.80 4.99 5.14 5.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.59 4.74 5.09
Resimac 5.00 4.86 4.75 5.30
SBS Bank 5.79 4.99 5.19 5.49
SBS Bank Special - 4.59 4.79 5.25
Sovereign 5.90 4.99 5.14 5.49
Sovereign Special - 4.59 4.74 5.09
The Co-operative Bank - Owner Occ 5.65 4.59 4.85 5.25
The Co-operative Bank - Standard 5.65 5.09 5.35 5.75
TSB Bank 5.65 4.80 5.15 5.45
TSB Special - 4.55 4.75 5.15
Wairarapa Building Society 5.70 4.85 4.99 -
Lender Flt 1yr 2yr 3yr
Westpac 5.84 4.99 5.19 5.49
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.84 - - -
Westpac Special - 4.59 4.79 5.09
Median 5.80 4.93 5.14 5.38

Last updated: 20 April 2017 2:30pm

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