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NZ PM Rejects Push to Raise Retirement Age
Source: abcasiapacificnews.com
Source Date: Wednesday, December 08, 2010
Focus: Institution and HR Management
Country: New Zealand
Created: Dec 13, 2010

New Zealand's Prime Minister has rejected a recommendation that the retirement age be lifted to 67.

The country's Retirement Commission says the move is necessary to keep superannuation affordable over the long term.

In a new report, the commission says the retirement age should be raised from 65 to 67.

It recommends the change be phased in over thirteen years, ending in 2033.

But Prime Minister John Key says it won't happen at all on his watch, honouring an election pledge by the Nationals.

Commissioner Diana Crossan, however, says the issue cannot be ignored, with a huge number of baby-boomer superannuants coming on stream.

The Australian Government plans to raise the qualifying age for the Age Pension to 67 by 2023.
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