Archive for the ‘Pensions’ category

Immigrants and pensions

July 1, 2012

With baby boomer retirements now rapidly escalating, populist New Zealand politician Winston Peters has raised the issue of pensions for immigrants from developed countries. This issue has already been raised by Grey Power, but Peters’ high media profile should help to keep the issue in the spotlight.

Of course this isn’t just an issue for New Zealand – all English-speaking countries now have a lot of aging immigrants whose pensions will have to be paid by a shrinking number of local taxpayers. Generally speaking, most European Commonwealth countries have reciprocal pension agreements with most developed countries, but as far as I’m aware, there are no reciprocal pension agreements with low-income countries like China, India, Pakistan and Nigeria, which now account for large numbers of immigrants in Britain, Canada, Australia and New Zealand.

I’m not getting my hopes up too much, but greater awareness of this issue may have some positive influence on immigration policy.