Prime minister Bill English caused a stir over the weekend when he hinted at raising the age of eligibility for New Zealand Super. He stated that his intentions would become clear prior to the general election in September.
The cost of the scheme is expected to triple in the next 20 years from $11 billion to $36b as more people reach 65 and live for longer. Other experts say that raising the eligibility age alone will not be enough. We need to also consider means-testing and increasing the current residency requirement from 10 to 25 years.
Andrew Little is taking the opposite approach saying “too many New Zealander struggle to work to the age of 65 already, and English's comments will create unnecessary worry.” He added - "A Labour government I lead will not raise the entitlement age." This is a turnaround from Labour's stance on the issue over the past two elections.