03-05-2024, 09:29 AM
So for someone turning 5 this year they need to have lived in NZ for 10 years minimum including at least 5 of them in the last 15 years. The amount of time spent living in NZ will increase for those turning 65 over the next 18 years. Just the strategy that would be expected to mitigate the government's superannuation burden as the population ages in terms of overall demographics and I expect it won't be the last tightening we will see in the future as the retired proportion of NZers increases.
Interestingly my partner is a Brit who spent 20 years living in Canada and there is a similar 20 year minimum in place for superannuation received from Canada.
I remember attending a presentation by Gareth Morgan about 20 years ago where he predicted various measures that we are likely to see aimed at mitigation of the superannuation payments and maximisation of income tax payment such as incentivising women back into the workforce, enticing retirees to remain working and disincentivising beneficiaries. The burden of aging demographics is problematic over most Western countries and threatens economies as superannuation loads exceed the tax income gained by a reducing portion of working population.
Interestingly my partner is a Brit who spent 20 years living in Canada and there is a similar 20 year minimum in place for superannuation received from Canada.
I remember attending a presentation by Gareth Morgan about 20 years ago where he predicted various measures that we are likely to see aimed at mitigation of the superannuation payments and maximisation of income tax payment such as incentivising women back into the workforce, enticing retirees to remain working and disincentivising beneficiaries. The burden of aging demographics is problematic over most Western countries and threatens economies as superannuation loads exceed the tax income gained by a reducing portion of working population.