tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo close ad
tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, January 24th, 7:00PM

News

rss
Latest Headlines

Support for pension move

Investment advisers are unfazed by a suggestion that migrants be kept waiting longer for a New Zealand pension.

Wednesday, October 24th 2018, 5:59AM

A new member’s bill proposed by NZ First MP Mark Patterson would raise the minimum residency for the pension from 10 years to 20.

The New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill was drawn from the ballot on Thursday.

In 2016, Retirement Commissioner  Diane Maxwell recommended that residency for super increase to 25 years.

There are concerns that such a move could leave some people under-resourced in retirement.

But adviser Stephen O’Connor said it was unlikely to be an issue for his clients. “I don’t have many immigrants as clients and the impact on them is negligible to nil. Most are well heled anyway and not reliant on NZ Super. They have their own wherewithal in terms of retirement provision.”

Another adviser, Brent Sheather, was similarly unconcerned.

“I think it is a great idea and anything like this which makes superannuation more affordable for NZ should be encouraged."

Financial Advice NZ chief executive Katrina Shanks said it would mean those migrant show were affected would have to work harder with the assets they had and maximise them with as many revenue streams as possible.

The advice they would need would be much wider and greater, she said.

Maxwell earlier said the length of residence needed to be decided in the context of increasing international mobility and the reform of overseas pensions.

The 10 years currently required is short by international standards.

Tags: NZ Super superannuation

« FSLAB expected to pass by early 2019Mann on a mission to diversify financial advice »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.60 3.65 4.15 4.69
ANZ 4.79 4.25 4.95 5.35
ANZ Blueprint to Build 2.03 - - -
ANZ Special - 3.65 4.35 4.75
ASB Back My Build 2.29 - - -
ASB Bank 4.60 3.65 4.15 4.69
Avanti Finance 4.55 - - -
Basecorp Finance 5.49 - - -
Bluestone 4.09 4.29 4.86 5.09
BNZ - Classic - 3.65 4.35 4.69
BNZ - Mortgage One 5.15 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Rapid Repay 4.95 - - -
BNZ - Std, FlyBuys 4.95 4.25 4.95 5.29
BNZ - TotalMoney 4.95 - - -
CFML Loans 5.35 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 3.59 4.09 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 5.25 4.25 4.75 -
HSBC Premier 4.49 2.19 2.45 2.69
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 4.25 3.49 4.05 4.55
Kainga Ora 4.60 4.03 4.68 5.07
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 4.25 4.54 5.20 5.54
Kiwibank - Offset 4.25 - - -
Kiwibank Special 4.25 3.69 4.35 4.69
Liberty 4.84 - - -
Nelson Building Society 4.95 4.29 4.85 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.39 3.54 3.89 4.09
SBS Bank 4.79 3.95 4.49 4.85
SBS Bank Special - 3.45 3.99 4.35
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - 3.45 - -
The Co-operative Bank - Owner Occ 4.75 3.65 4.35 4.69
The Co-operative Bank - Standard 4.75 4.15 4.85 5.19
TSB Bank 5.34 4.09 4.74 4.99
TSB Special 4.54 3.29 3.94 4.19
Unity 5.65 4.15 4.60 -
Wairarapa Building Society 4.99 4.05 4.50 -
Lender Flt 1yr 2yr 3yr
Westpac 5.09 4.29 4.95 5.29
Westpac - Offset 5.09 - - -
Westpac Special - 3.69 4.35 4.69
Median 4.77 3.69 4.42 4.69

Last updated: 19 January 2022 12:41pm

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com