Greater freedom for our Golden Kiwis

A new law making it easier for retired New Zealanders to travel overseas has been passed through Parliament.

The Social Assistance (Payment of New Zealand Superannuation and Veteran's Pension Overseas) Amendment Bill has passed, which will allow pensioners to receive their entitlements while living and travel overseas.

It is no secret that our population is aging and the National-led Government is committed to ensuring that older New Zealanders have the freedom they deserve in their Golden Years.

Older Kiwis - including those from within our ethnic communities - are more active than ever before and after a lifetime of paying taxes it makes sense that they should be able to travel during their retirement and take their entitlement with them.

The Bill, which has passed through all stages of Parliament and will soon become Law, is the first changes to the way our senior citizens can access their pensions since the 1990s.

Penalising older Kiwis for wanting to move to another country - or travel through many - served no particular purpose. It's not what retirees want and it's not in line with this National Government's philosophy.

We want all New Zealanders to be able to enjoy the fruits of their labour and that is why this law has been passed.

The new payment rate means a superannuitant will be able to receive up to the full rate of their entitlement depending on how long they've lived in New Zealand between the ages of 20 and 65 years.

Under the new rules someone who has lived here for 22.5 years during this period will receive 50 percent of their pension and if they have lived here 30 years they will receive 66 percent - whereas in contrast to the old rules they would only get 50 percent.

Also, under the "grandparent provision" of the new law, all people who are receiving 50 percent under the current rules will continue to receive 50 percent , or have their payment rate increased if they are entitled to more under the new formula.

This makes sense, because many members of our ethnic communities have chosen New Zealand as their permanent home, they have paid their taxes and they should receive what they are entitled to.

These changes will ensure that elderly New Zealanders are getting the entitlements they deserve and that they have greater freedom in how they spend their retirement years.