NZ Super changes - how they'll affect you

Prime Minister Bill English is seeking changes to New Zealand's superannuation scheme at this year's general election, with plans to raise the age of eligibility from 65 to 67.

If approved, the changes would be phased in from July 2037 with the age increasing by six months twice a year until July 2040.

According to the government, an estimated 120,000 fewer people would be eligible for NZ Super in 2040 than under current settings.

Superannuation was first introduced in 1940, and the current scheme dates from 1977. The eligibility age was lifted from 60 to 65 between 1992 and 2001.

Australia and the UK both have superannuation ages of 65, with plans to increase this to 67 by 2023 and 2028 respectively. In the US, it is currently 66 and will be raised to 67 in 2027.

Will you be affected?

If you were born on or before June 30, 1972
Superannuation changes won't affect you. You will be eligible for superannuation from your 65th birthday.

If you were born between July 1, 1972 and December 31, 1972
You will be eligible for NZ Super at 65 years and 6 months old

If you were born between January 1, 1973 and June 30, 1973
You will be eligible for NZ Super at 66 years old

If you were born between July 1, 1973 and December 31, 1973
You will be eligible for NZ Super at 66 years and 6 months old

If you were born on or after January 1, 1974
You will be eligible for NZ Super at 67 years old

Immigrants
New migrants will need to live in New Zealand for 20 years to qualify for NZ Super - twice as long as current conditions. This includes five years after they turn 50.