Our research

In conjunction with the Human Rights Commission, the Retirement Policy and Research Centre (RPRC) has been exploring the issues of pension portability and overseas pensions. Problems experienced by superannuitants under the current regime have not been resolved by the 2009 legislative changes.

Part 1
A review of the current regime for the treatment of overseas pensions. Research leader Annette Lazonby.

Part 2
A Literature Review has been completed. Research leader M Claire Dale. Refer to Working Paper 2009-1 (see below).

Part 3
Establishing the principles for the sustainable and fair treatment of those with overseas pensions. Research leader M Claire Dale. Refer to Working Paper 2009-2 (see below).

Part 4
Proposing solutions:

• Option 1: Reforming New Zealand Superannuation for a mobile trans-Tasman population

New Zealand and Australia take a unique approach to state pension provision that derives from an entitlement solely based on residency and not contributions. Even so, there are stark differences between the Australian and New Zealand state pensions which raise an important set of issues for movements between these two countries. Refer to Working Paper 2010-3 (see below).

• Option 2: New Zealand Superannuation and Overseas Pensions.

The New Zealand government’s role in ensuring the fair treatment of older citizens, including those who have worked overseas, gives logic to taking some account of overseas pensions that perform a similar role to NZS. Refer to Working Paper 2010-2 (see below).

• Overseas pensions: The next steps

The Retirement Policy and Research Centre are pleased to publish this final working paper on the overseas pension project. It makes recommendations for reform of the current policy inequities and anomalies. Some recommendations are for administrative change, and could be implemented immediately; while others require significant policy change and should be informed by a national debate prior to adoption. The RPRC encourage the government to act with urgency in 2011. Refer to Working Paper 2011-1 (see below).

Related working papers

• Working Paper 2011-1: Overseas pension: the next steps
• Working Paper 2010-3: Reforming New Zealand Superannuation for a mobile trans-Tasman population
  (refer Part 4 Option 1 above).
• Working Paper 2010-2: KiwiSaver the first three years: Lessons for Ireland?
  (refer Part 4 Option 2 above).
• Working Paper 2009-2: New Zealand superannuation and overseas pensions: Issues and principles for reform
• Working Paper 2009-1: Literature review: New Zealand superannuation and overseas pensions

Decumulation is a major focus for the RPRC in 2011, building on earlier research and reports.

The annuities market in New Zealand

KiwiSaver changed the landscape, and from 2012 people will retire with increasingly large tax-subsidised lump-sums that must be managed over an uncertain lifespan, in an uncertain investment climate, with unknown levels of inflation. The "market failure problem" of annuities is reflected in their dependence on substantial state intervention.

The report notes that very little attention has been given to the decumulation process facilitated by drawdown and annuity products.

The policy implications of decumulation in retirement in New Zealand

The July 2006 background document prepared for the Retirement Commission sets out the issues.

Research reports

• The annuities market in New Zealand
• The policy implications of decumulation in retirement in New Zealand

The top 100 and SME surveys report monitors the top 100 companies in New Zealand before and during the transition to Kiwisaver and was released 15 August 2008.

• Background summary report: Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers
  13 August 2008 RPRC background summary report: Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers.
• Report: Kiwisaver perspectives from New Zealand small enterprises
  Kiwisaver perspectives from New Zealand small enterprises. 31 January 2008 Report based on businesSMEasure November 2007 by Martina Battisti (New Zealand Centre for Small and Medium Enterprise Research Massey University).
• Report: Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers
  7 August 2008 RPRC report: Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers.
• Press release: Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers
  Workplace retirement savings in 2008 - attitudes and practices of the Top 100 employers. Press release August 2008.