Working Paper 2/09Dale, M.C., St John, S., Littlewood, M. (2009) New Zealand Superannuation and Overseas Pensions: Issues and Principles for Reform." (Part Two of a two part project by the Retirement Policy and Research Centre for the Human Rights Commission) (1.2MB) The Retirement Policy and Research Centre's latest working paper explores the background of current pension policy, especially pension portability. It appears that pension policy in New Zealand has developed in an ad hoc manner, often without public consultation, and often with unintended consequences. An analysis of complaints, policy, legislation and recommendations regarding the treatment of overseas pensions and of New Zealand Superannuation overseas provides a foundation for discussion of suitable principles to guide future decision making and policy formation. Working Paper 1/09Dale, M.C., Lazonby, A., St John, S., Littlewood, M. (2009) Literature Review: New Zealand Superannuation and Overseas Pensions (Part One of a two part project by the Retirement Policy and Research Centre for the Human Rights Commission) (1.2MB) This literature review surveys recent academic and government publications in New Zealand and overseas relating directly and indirectly to pension portability and migration. The purpose of the review is to provide the foundation for the forthcoming Retirement Policy and Research Centre (RPRC) working paper: New Zealand Superannuation and Overseas Pensions: A first principles approach to developing options to improve equity. That working paper, which draws on Lazonby (2007), an earlier RPRC working paper, will analyse the existing complaints, policy, legislation and recommendations regarding the treatment of overseas pensions. Working Paper 2/08St John, S., Littlewood, M., Meehan, L (2008) The distributional impact of recent changes to retirement income policy: a preliminary analysis, Working Paper No 2008-2, The Retirement Policy and Research Centre (256KB)
The Retirement Commissioner’s 2007 Retirement Income Review warned that "KiwiSaver has brought additional complexity and new fiscal risks, because of the high cost of the generous new incentives." This working paper quantifies the value of the tax-funded incentives and subsidies for individuals who save under various hypothetical scenarios. The preliminary modelling shows how the future value of these subsidies and incentives varies by income, age and employer contribution. This paper concludes that they will have a regressive and unequal impact. The Retirement Policy and Research Centre recommends that this aspect of KiwiSaver should be reformed, and sooner rather than later. Further work is under way at the Retirement Policy and Research Centre to extend this analysis. Working Paper 1/08Hughes, G (2008) Lessons from New Zealand for Ireland's green paper on pensions, Working Paper No 2008-1, The Retirement Policy and Research Centre (268KB)
Ireland and New Zealand both have a population of around 4 million but the economy and per capita living standards are about 60 per cent larger in Ireland than in New Zealand (see Table 1). Home ownership rates are quite high in both countries, especially for older people. Life expectancy at age 65 in Ireland is about three years less than in New Zealand for both men and women.
Although both countries have a commitment to maintaining living standards in old age the balance between public and private provision is struck very differently in the two countries. As the epigraphs suggest, this reflects fundamentally different conceptions of the role of the state in pension provision. In Ireland there is a consensus that the role of the state is to help the social partners to develop a national pension system for workers whereas in New Zealand there is a consensus that the role of the state is to provide security in old age for citizens. Working Paper 2/07Lazonby, A (2007) Passing the Buck, The impact of the direct deduction policy on recipients of overseas pension benefits in New Zealand, Working Paper No 2, The Retirement Policy and Research Centre (276KB)
Of the approximately half a million New Zealanders over the age of 65], around 51,000 are entitled to at least two public pensions, one from New Zealand, and at least one other from abroad. This means that around 10% of superannuitants are subject to the direct deduction policy as set out in section 70 of the Social Security Act 1964. Section 70 mandates a dollar-for-dollar abatement of New Zealand Superannuation entitlements against a superannuitant’s, or the spouse’s, overseas entitlement. This treatment, has been increasingly perceived as out of step with the times and inequitable by the individuals affected. This paper reviews the origins of the direct deduction policy, its rationale and its impact on those receiving one or more pensions from overseas. Working Paper 1/07Lazonby, A (2007) The changing face of the Aged Care Sector in New Zealand, Working Paper No 1, The Retirement Policy and Research Centre. (244KB)
The aged care sector has been described as a sector in crisis. Recent years have seen a rash of closures of charitable aged care providers, constant calls to raise the Residential Care Subsidy, and frequent strikes amongst nurses and informal carers due to poor pay and conditions. This report investigates the ‘Aged Residential Care’ market, examining its origins, present structure, and the issues it currently faces such as those arising from the ageing population. While the sector is found to be in the throes of considerable transition rather than crisis, it is important that suitable planning for the demographic changes ahead is undertaken now. |