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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 ...
a resident of New Zealand at the time they apply; They must also have lived in New Zealand for at least 10 years since they turned 20 with five of those years being since they turned 50. Time spent overseas in certain countries and for certain reasons may be counted for New Zealand Superannuation. [19]
Domestic Purposes Benefit – Woman Alone is a weekly payment which helps women aged 50 or over (but under the age of New Zealand Superannuation, i.e. 65) who have lost the support of their partner or finished caring for a child or sick relative. [18] As of 1 April 2014, the Domestic Purposes Benefit has been replaced by Jobseeker Support. [1]
The Ministry of Social Development (MSD; Māori: Te Manatū Whakahiato Ora) is the public service department of New Zealand charged with advising the New Zealand Government on social policy, and providing social services. MSD is the largest public service department, employing public servants in over 200 locations around New Zealand.
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 government will also legislate in Finance Bill 2017 to apply British tax rules to payments from funds that have had British tax relief and have been transferred, on or after 6 April 2017, to a qualifying recognised overseas pension scheme. British tax rules will apply to any payments made in the first 5 full tax years following the transfer ...
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. [2]
Called retirement plans in the United States, they are commonly known as pension schemes in the United Kingdom and Ireland and superannuation plans (or super [3]) in Australia and New Zealand. Retirement pensions are typically in the form of a guaranteed life annuity, thus insuring against the risk of longevity.