Post by Banjo on Dec 8, 2016 17:47:19 GMT 7
NZ, Australia strike new pensions deal
Pensioners who split their lives between Australia and New Zealand will face changes from July next year under a revised social security agreement.
The new agreement provides for the shift in the Australian age pension age to 65.5 from July 1, 2017, and subsequent rises, with claimants under the agreement having to reach pension age in both countries.
Also, only New Zealand working age residence - defined as residence between age 20 and pension age - can be used to meet the 10-year qualifying residence requirement for disability support pension in Australia.
The previous agreement allowed recipients to continue to receive payments for absences of up to 26 weeks including for DSP and carer payments.
The changes are expected to save the federal budget $16 million over the next four years.
Read more at www.9news.com.au/national/2016/12/08/17/27/nz-australia-strike-new-pensions-deal#WwYwqdydsPEjO4hu.99
Pensioners who split their lives between Australia and New Zealand will face changes from July next year under a revised social security agreement.
The new agreement provides for the shift in the Australian age pension age to 65.5 from July 1, 2017, and subsequent rises, with claimants under the agreement having to reach pension age in both countries.
Also, only New Zealand working age residence - defined as residence between age 20 and pension age - can be used to meet the 10-year qualifying residence requirement for disability support pension in Australia.
The previous agreement allowed recipients to continue to receive payments for absences of up to 26 weeks including for DSP and carer payments.
The changes are expected to save the federal budget $16 million over the next four years.
Read more at www.9news.com.au/national/2016/12/08/17/27/nz-australia-strike-new-pensions-deal#WwYwqdydsPEjO4hu.99