New Zealand. Raising the retirement age to 67 not enough to support ageing population
The very idea of changing the age of eligibility for NZ Superannuation from 65 to 67 has certainly caused all sorts of reactions, from support for a bold action, to complaints it didn’t go far enough, to criticisms that it is unfair and inequitable. But we think these reactions miss the point.
The official news release states the change is to “ensure the scheme remains affordable into the future.” The implication is that if something doesn’t change then there won’t be any superannuation in the future, or at least not enough to support a person.
Judging the change in eligibility should really come down to this: is the current scheme affordable, and if not, will this change make it so?
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