22 Jul 2011

Choice proposed for retirees for when they take super

3:51 pm on 22 July 2011

Retirees would get a choice about when they take superannuation under a new policy announced by United Future leader Peter Dunne.

He says people should have the flexibility of retiring from age 60 through to 70.

Mr Dunne says the policy has different pension rates, increasing the older a person is when they retire.

He says a retiree at age 65 would receive $339 per week, based on current superannuation levels; but they would get an extra $207 per week if they chose to wait until they are 70.

He says a lot of people in the baby boomers' age group are working longer, and if they delayed taking the pension, it would help the fiscal sustainability of New Zealand Superannuation.

Mr Dunne says the policy would also make KiwiSaver compulsory.