New Zealand’s ACT Party proposes gradually raising pension eligibility to 67 by 2035 in its election fiscal plan. David Seymour’s party also seeks lower public spending and debt, changes to disability benefits and foreign aid, and a smaller annual allowance for new spending. Its proposals would reshape retirement and welfare funding if implemented.
New Zealand’s ACT Party released its election fiscal plan on October 11. Leader David Seymour proposes lower public spending and debt, alongside changes to retirement provision.[1], [2]
The plan would raise pension eligibility by three months each year, reaching 67 in 2035. ACT projects annual savings of 1.9 billion dollars from the age change in 2031.[1]
The party proposes suspending contributions to the NZ Super Fund, the public fund supporting retirement payments. It also proposes ending the government contribution to KiwiSaver, New Zealand’s retirement-savings scheme, while removing tax on qualifying investment earnings. Those changes accompany the proposed increase in pension age.[1]
Disability benefits would be subject to independent medical criteria and staged reassessment. ACT projects 653 million dollars in savings over four years. The party also proposes a five-year waiting period before migrants can access benefits.[1]
ACT projects debt 12.4 billion dollars below current forecasts by 2031 and proposes 9.9 billion dollars in spending cuts. Its annual allowance for new operating expenditure would be 2 billion dollars. Foreign aid would return to its 2017 level, with Ukraine and Pacific support protected; the party projects annual savings of 283 million dollars from that change.[1]
