14 Nov 2008

Niue lifts retirement age from 55 to 60

1:33 pm on 14 November 2008

The Niue government has stopped paying two-weekly pensions to people aged between 55 and 59, a move expected to save about 60,000 US dollars a year.

It's part of a cost-cutting exercise to free up cash.

Niue is one of the few countries in the Pacific that pays out pensions and officials say there will be no change to the 84 US dollars benefit paid every two weeks to those 60 and over.