FIRST CUT: Pension age to rise to 67, starting in 20 years

The age of entitlement for New Zealand Superannuation - the universal national pension - will rise from 65 at present to 67 - but there will be no change for the next 20 years.

From July 1, 2037, the pension entitlement age will rise gradually to 67, Prime Minister Bill English announced today.

However, there will be no legislation before Parliament to enact the policy until after the Sept. 23 election, leaving the policy hostage to both government formation talks with New Zealand First, which supports no age change, and to the possibility of a change government.

The changes "will not affect anyone born on or before June 30, 1972," English said.

BusinessDesk.co.nz

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