RNZ money correspondent Susan Edmunds. Photo: RNZ
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I am an Australian citizen, who has resided in New Zealand since 1996, working predominantly as a secondary school teacher. I lived in Australia before that time, working for around seven years and the rest of the time studying.
I was born in 1964, so am starting to think about super. I have tried to research, but still have a few questions.
When I turn 65, I presume I will receive NZ Super. When I turn 67, will I be able to change to Australian super, as I believe it will be the higher amount?
If I moved back to Australia at 65, will I still receive the NZ Super. At 67, can that change to Australian super?
New Zealand has a reciprocal Social Security Agreement (SSA) with Australia, which would apply in your situation.
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International, disability and generations policy general manager Harry Fenton said NZ Super was designed to ensure that people who lived or worked overseas were not disadvantaged, compared to New Zealanders who had stayed in New Zealand.
"Under the SSA, Australian citizens who migrate to New Zealand, and meet the criteria for New Zealand benefits and pensions covered by the agreement, become eligible for those benefits and pensions on the same terms and conditions as New Zealanders who have lived and worked in New Zealand.
"An Australian citizen applying for NZ Super will be able to receive NZ Super from age 65, if they meet all the criteria, including the number of years of residence in NZ.
"The provisions of the SSA allow people to also count relevant Australian residence. If someone relies on time spent in Australia to meet the residency requirements, they will not be able to qualify for NZS until age 67.
"Regarding switching between the two pension schemes, we would recommend that your correspondent gets in touch with the MSD service centre, so that we can provide relevant information to support them in their specific circumstances and help them avoid any surprises. It is important to note the Australian age pension is income and asset tested."
When my father passed away in 2013. his half share of their retirement unit was left to me, with a clause allowing our stepmother to stay on.
She vacated in March this year, and the unit was cleared out and officially returned to the village. It's now October and they haven't even begun the refurbishment, as there have been no offers.
Can we force them to pay out the outstanding amount or can they do nothing forever, because it seems I am now providing a property investment company with an interest-free unlimited term loan?
I asked the Retirement Commission for help with this one. I know that this can be a major stress point for people dealing with retirement villages.
A spokesperson said operators were not required to repay capital, when a resident leaves a village, until the unit is resold.
However, they do have responsibilities during that sales process, including actively marketing the unit, providing regular updates, completing a valuation after six months and reducing monthly fees after nine months.
"If you believe the operator hasn't met these responsibilities, you can make a formal complaint," she said.
That would involve first going to the village's internal complaints process and then, if that did not work, escalating it to a statutory supervisor, then a mediator and finally a dispute panel.
"To begin a formal complaint, you'll need to submit it in writing, signed and dated, directly to the operator. They must respond within 20 working days.
"If the unit remains unsold for nine months, you may then issue a dispute notice.
"It's also worth noting that the Retirement Villages Act 2003 is currently under review, with cabinet expected to make decisions later this year. One of the key areas being considered is how to incentivise or require earlier capital repayments when residents leave a village.
"In the meantime, if you're unsure whether the operator is meeting their obligations, we recommend seeking independent legal advice."
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