G'day Kiwis

[Coss]

As I get closer to moving to Laos, I'm re-examining the situation, vis a vis NZ Superannuation.

I understand that what I want to do, is eminently possible.

So I'll remain a Kiwi and technically, travel a lot.

Doing "visa runs" to LOS and other countries periodically, to keep my Lao visa, stable.

Are there any Kiwis on the board, getting NZ Super in LOS or similar countries? If there's any comment, I'd be very interested.

Cheers

Coss

 

[Stickman]

I'm somewhat younger than you, Coss, and am still some years away from qualifying for the pension, but I have looked very closely at the current rules regarding NZ superannuation for Kiwis who live outside the country.

As things currently stand, to qualify for NZ super, you need to have lived in NZ for 10 years after age 20 and 5 years after age 50. That's it. No other requirements. Of course, it has been mooted many times over the past few years that the 10-year requirement might increase to 20 years.

If you wish to be paid NZ super and live outside of NZ, that is fine. You simply declare that you live outside the country and it will be paid to you. However, if you have spent time outside of NZ between ages 20 and 65, it will result in a reduced pension. So, let's say for example, you spent 25% of that time outside of the country, you will receive 75% of the super and not the entire amount.

I know one Kiwi who spent all his working life in NZ and now lives in Thailand. He receives the entire NZ super which is deposited in to a Thai bank account.

That's my understanding of things. Hope this helps!

 

[Coss]

Thanks Stick, yes I'm of a similar understanding to you.

It's good to hear of someone who is actually doing it, with no issues.

I'm a little nervous around the talk, of raising the qualifying age.

With my luck, the age would go up 3 days before I qualified...

I know it's old news, but I remember decades ago the NZ Govt would make it difficult, for retired folk in the Phillipines, on the suspicion that they'd died and the Philippine wife was still collecting the Super.

"yes sir he's 145 now, but he can't come to the phone "

[My Penis is hungry]

In NZ is Super and pension the same?

 

Quite different in Oz

[Coss]

Yes same, though people do get pensions for other things like veterans or being British

[My Penis is hungry]

Ok quite different in Oz, a pension while you need to qualify is government money given to you 

 

Superannuation is money taken either mandatory and also volunteered from your income into a fund that invests it for you

 

Best ones have been union owned.

 

Mandatory in Oz for many years now the idea being forcing people to save less people need the pension

 

Your employer takes it out of your wages along with tax.

 

Self employed not mandatory 

[Coss]

I think that the title "New Zealand Superannuation" came to common use, in one of the many changes of vocabulary, that government departments, forced on the language over the years.

i.e. "recipient" becomes "beneficiary" and or "client"

So, New Zealand Superannuation is a fortnightly payment for people aged 65 and over.

But Pensions and Superannuation are interchangeable terms, for the same idea, of a regular payment to someone, derived in whatever manner or scheme.

[My Penis is hungry]

I guess depends on the dictionary you use, well that's misleading

 

Every dictionary defines them pretty different

 

Pension is a grant from a government or business

 

Whereas superannuation is money you or your employer contributed to while working 

 

Super also has a defined amount,

 

Whereas a pension if you live exceedingly long time could be very different amount than if youived a short time after getting the pension.

 

Super also the unused part is yours after you die, it's an asset

 

Pension stops when you do 

 

They are pretty different so quite curious why NZ mixes them up or are there both super and pension in NZ?