Update on Eligibility for New Zealand Super rules - legislation passed with delayed start date
In our August newsletter (which you can find here), we outlined the proposed changes to eligibility for New Zealand Superannuation. Legislation was passed in late 2021 to implement these changes.
In summary:
The residence test to qualify for New Zealand Superannuation increases from 10 years to 20 years, but with a staggered approach, with annual increases in the residence requirement.
Those who turn 65 on or before June 30th 2023 will still face the 10 year eligibility rule.
Only those who turn 65 on or after July 1, 2042 will face the full 20 year requirement.
People will still need to have been resident in New Zealand for five years from the age of 50.
