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The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
Among the early forms of social welfare in New Zealand was the old age pension, introduced by the Liberal Government in 1898. The scheme was introduced to avoid what MP William Pember Reeves described as the "worst social evils and miseries", referring to the British workhouses where the elderly lived in spartan institutional circumstances. The ...
The KiwiSaver scheme logo. KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
The Domestic Purposes Benefit, or DPB, was first introduced in New Zealand in 1973 [2] by the country's Third Labour Government led by Prime Minister Norman Kirk. [2] The Destitute Persons Act 1910 and the Domestic Proceedings Act 1968 had previously created a statutory means by which a woman could seek a maintenance order against the father of her children.
If the pension holder lives in a jurisdiction with no Double Tax Treaty with the UK; Where sophisticated investors require non-standard and unregulated funds that would not be allowed in a British pension; Certain jurisdictions where pension holders are resident, like Australia and New Zealand, that offer tax advantages
The design of the proposed savings scheme and the referendum were a result of the coalition agreement between the National Party and New Zealand First following the 1996 general elections. The referendum was set up by the Compulsory Retirement Savings Scheme Referendum Act 1997.
In contrast to a New Zealand permanent resident, a New Zealand citizen. is entitled to hold and travel on a New Zealand passport; must never be deported from New Zealand; can stand for public office; does not need a visa for their return to New Zealand; is entitled to New Zealand consular protection; may represent New Zealand at international ...
The age pension was the first payment made by the Australian Government, dating back to 1909. [25] There is no automatic entitlement to an age pension in Australia, unlike in countries such as the UK or New Zealand. Taxpayer-funded pensions are means tested [26] (similar to the UK's Pension Credit), effectively making them another type of benefit.