Hon Bill English
Minister of Finance
26 August, 2013
Discussion paper on flexible superannuation
As set out under the confidence and supply agreement between the National and United Future Parties, the Government has
today issued a discussion document looking at the option of flexible superannuation.
The proposal would give New Zealanders greater choice about when they could first take New Zealand Superannuation,
Finance Minister Bill English says.
“The Government is committed to maintaining existing settings and eligibility criteria for New Zealand Superannuation,”
he says. “That’s important to provide certainty for superannuitants and future retirees.
“However, as agreed in the confidence and supply agreement with United Future, we are issuing this discussion paper to
test the public appetite for providing more flexibility around when New Zealanders can opt to first receive New Zealand
Superannuation.
“This would give New Zealanders the choice of taking NZ Super at a reduced rate earlier than the age of 65 – for
example, from age 60. Alternatively, they could choose to receive Super at a higher rate if they deferred taking
superannuation later than 65.
“The discussion document is deliberately set at a high level and more detailed policy work would be required should the
proposal be progressed.”
Public submissions on the proposal close on 11 October and Mr English will report to Cabinet on the results of the
consultation in November.
The discussion document is available at: http://www.beehive.govt.nz/feature/discussion-paper-flexible-superannuation-0
ENDS