PM Bill English has announced the age of eligibility for superannuation will rise to 67 in gradual steps from 2037. The age will lift to 67 in 2040.
The Government are also planning to double the residency requirements, so that applicants will need to have lived here for 20 years, rather than 10. Five of those years need to have been after the age of 50.
People who are already citizens or residents will remain eligible under the existing rules.