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Outgoing Retirement Commissioner Diane Maxwell has been outspoken about the need to increase the pension age from 65.
"You used to get super for five years, then 10 and now 20 - soon it'll be 30. I'm not sure how we can fund people getting super for 30 years or more."
New … View moreOutgoing Retirement Commissioner Diane Maxwell has been outspoken about the need to increase the pension age from 65.
"You used to get super for five years, then 10 and now 20 - soon it'll be 30. I'm not sure how we can fund people getting super for 30 years or more."
New Zealand has one of the simplest pension schemes in the world - all you have to do is be old enough and have lived in the country long enough and you can get it.
But that also makes it expensive - about $14.5 billion this year. Jobseeker benefits, by comparison, cost just $1.7b and sole parent support $1.08b.
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