NZ PM English announces Superannuation changes

New Zealand’s Prime Minister Bill English is now on the wires, via Bloomberg, announcing major changes for superannuation.

Key Highlights:

The eligibility age for superannuation will rise to 67 years old by 2040

To begin progressively lifting the threshold from 65 to 67 years old in 2037.

The Government will also limit superannuation eligibility to people who have lived in New Zealand for 20 years, rather than 10 years.

That is lower than the commissioner's recommendation of 25 years