NZ Superannuation Eligibility

[udang]

Hello,

A technical question on eligibility of NZ Super. The following criteria if met will qualify one to receive NZ Super (extracted from some NZ Super website):

• In order to qualify for New Zealand superannuation (a pension paid by the government) you must have lived in New Zealand legally for at least 10 years since you turned 20. Five of these years must be since you turned 50.


Question:
If I became a NZ resident at the age of 50 and have lived in NZ for a total of 5 years (accumulated, on and off) by the time I reach 65, I will still be 5 years short of the 10 years requirement for NZ Super. If however I spent 5 years in NZ legally between the age of 20-25, with a student visa (not a resident then, only became resident at age of 50), can that 5 years as a student be counted towards the total 10 years requirement?

Another way to look at it is whether the 10 years requirement must all be clocked while being a NZ resident? Can time clocked in NZ under other types of visa such as student visa, work visa etc. be counted towards the 10 years requirement for NZ Super?

[breeze]

Sounds like trying to milk the system?

I would think logically this benefit extends to Residents, PRs and Citizens only. Best to spend more time in NZ. Contribute more to the country and the country will give you back.

[Lazysnapper]

Remember that they can take away or balance the SA with your Partner's pension. Means the NZ government takes advantage of pensions earned overseas.

Read this:

http://www.nzpensionprotest.com/Home...ity-agreements

Since the superannuation is linked to no contribution at all it is practically welfare. If a NZ citizen sits long enough on a rock watching the tide come and go he is eligible for superannuation. Whereas in other countries, especially in Europe, rather high compulsory contributions are payed many years through your salary in order to take care of you later pension. Therefore balancing these two totally different pensions with each other is simply unjustified. Due to this fact most countries refuse to establish a pension agreement with New Zealand. If money is your concern NZ is not for you.

[udang]

Thanks for the replies.

I have a small brain. I have headache reading the article on how NZ SA is compatible or not compatible with other overseas pensions. I must admit I can't really understand them fully. I'll have to take some time to see if I can digest them slowly :-D

I think NZ SA is an assistance that's nice to have in the retirement years. Over the course of several decades, I have spent some years in NZ as a student, a resident, then permanent resident. I worked during those periods of time, even as a student. I'm inclined to believe that I made some contributions to NZ. I'm happy to receive proportionate pension based on the amount of contribution to the NZ economy but that's not how the system works in NZ. Eligibility by length of residence is what matters. That's why in planning for retirment, I'm keen to find out if time spent in NZ on a student or work visa counts towards the eligibility by residence criteria. The advice to spend more time in NZ doesn't always work for everyone in our era of a shrinking world unfortunately.

[RedVee]

This website uses the term "resident and present" to describe the time spent:

https://www.msd.govt.nz/what-we-can-...uperannuation/

this page: http://www.workandincome.govt.nz/man...nuation-05.htm

Describes how deciding if you were ordinarily resident might be worked out. It's not purely a case of your visa status, but there are a number of things they may consider in working out whether this truly is the place you have made your home.

Only spending 5 out of 15 of your pre-retirement years here might lead them to think your centre of gravity is somewhere else? As you can see, it's far from straightforward, and it depends a lot on what you are doing when you are not here. I'd make an appointment to talk to an MSD seniors case manager.



Time spent in some other countries can count, but South Africa isn't mentioned.

[udang]

Thanks RedVee. Very helpful information even though it doesn't definitively answer my original question. I guess there're always some judgmental elements.