Big changes to Super: What you need to know

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The Government is proposing to raise the age of superannuation entitlement from 65 to 67, starting in 20 years' time.

Source: 1 NEWS

The changes under a National-led Government will be phased in from 1 July 2037 and will not affect anyone born on or before 30 June 1972.

The Govt has announced it plans to lift the Super entitlement age from 65 to 67 by 2040.
Source: 1 NEWS

WHAT YOU NEED TO KNOW 

Super will increase from the current age of entitlement - 65 - by six months each year from July 1 2037, until it reaches 67 on July 1 2040. 

People will be eligible after 20 years of residency, up from 10 years.

Eligibility for Super Gold Card will increase in line with the age of entitlement.

The Govt has announced it plans to lift the Super entitlement age from 65 to 67 by 2040.
Source: 1 NEWS

No change to universal entitlement (no asset or income testing).

Super payments remain indexed to 66 per cent of the average wage.

KiwiSaver funds remain accessible at 65.

NZ Super Fund contributions resume when net government debt falls below 20 per cent of GDP. 

The Prime Minister would give no definitive answers, simply repeating: "We'll let you know".
Source: Breakfast

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