Double whammy for KiwiSavers in Government pension plan? ROSS GIBLIN/FAIRFAX NZ Finance Minister Steven Joyce and Prime Minister Bill English announcing the decision to raise the pension age to 67. Older workers could be forced to raid their KiwiSaver accounts if they either lose their jobs or are forced out by ill health when the new pension age kicks in. The last time the pension age was increased was 1991 when it was raised from 60 to 65 in three month increments, ending 2001. Treasury estimates around 3100 people - or nearly half of those affected by the increased residency requirements - will qualify for either of those payments.

Source: Stuff March 10, 2017 09:08 UTC