Calls have been reignited for an inquiry into pension portability.
Paul Rea, former chair of the New Zealand Seniors’ Party, says that before Labour came into government it had pushed for such an inquiry. However due to “prevailing fiscal constraints” and other considerations, the Social Services Select Committee opted against it at the time.
“The question must be asked of the now Labour Government why is this inquiry not being initiated by Prime Minister Jacinda Ardern?” says Rea. “Could it be because the Government might find they will lose the over half a billion dollars a year that they currently steal from self-funded retirement immigrant pensioners savings if this inquiry is initiated?”
Rea has been campaigning for the removal of Section 70 of the Social Security Act 1964 to ensure all New Zealand Super applicants will retain their overseas pensions without any deduction.
Minister for Social Development Carmel Sepuloni says it is a complex issue and Rea and other pensioners will have to continue their wait for answers.
“I have asked Ministry of Social Development officials to look at certain aspects of the New Zealand Superannuation including the direct deduction policy and to report back to me later this year.
“At that stage, I will have a better understanding of the impact any change may have on particular superannuitant groups.”