Andersen GinnyGINNY ANDERSEN (Labour): Thank you very much Madam Speaker. It's great to be able to speak to a bill when there's agreement across the House on something as important as this and superannuation is an incredibly important issue right across the board in New Zealand and I'm sure we'll all benefit from it one day soon. In terms of what the bill proposes to do it's an omnibus bill so it amends several pieces of legislation in order to do what it sets out to achieve. I think it's important to be clear about what is actually happening and what the clear change will be for those people in New Zealand who are likely to receive the benefits of this change come 1 July 2020.The Government has announced the intention to make sure that those who are entitled to the Government super and veterans pension is simpler and more modern by basing people's entitlement on their own circumstances. That's the most crucial part in this change. So it's based on their own circumstances and not on the circumstances of their partner. From 1 July next year the direct deduction of the Government-administered overseas pension received by superannuitants' partners and from that superannuitant's super or veterans pension will be removed. I think that that's a really good movement because there's been a lot of confusion. I've had people come and speak to me about where entitlements lie and what money people are able to be entitled to receive and a lot of that comes on when there's one partner working yet both are entitled to be receiving New Zealand superannuation.Historically the policy has reduced a person's superannuation when their partner has had an overseas pension and typically a woman could've lived and worked all her life in New Zealand and entered into a second or third relationship later in life only to find out that she gets less superannuation or even nothing and then financial losses and independence can be reduced. Also to that extent men who marry women with long working histories from other countries can be affected as well. So it's important to give people security and know what funds they're entitled to.The other area that's important too as well is—it's already been mentioned from members on the other side of the House—making sure that it is sustainable and that is really important when we make it sure that people can have that reliance and that certainty in terms of having a superannuation fund to look forward to when you retire at the age of 65. So we have a responsibility to ensure that we continue to meet the needs of seniors today and well into the future as well and part of that is ensuring the sustainability of this vital income and part of that is about adjusting the settings to reflect the changes and that is part of a population as we know that is ageing.It's also an important time to consider how we want our superannuation to look into the future. The population as I've mentioned of those over 65 was at 770000 in June 2019 and it's projected that by the year 2036 22 percent of New Zealand's population will be aged 65 and over and that's up 15 percent from where it is now. So we know that in the future we will need to make sure that we are keeping a check on how we are paying superannuation to make sure it reflects the needs of our population and it's good to have a bill that provides an opportunity to refresh our superannuation system and contribute to its sustainability while not compromising the support we provide for those people who qualify.The bill proposes that superannuitants who will no longer have the option to include their partner who does not qualify in their rate—although those already included in the partner can continue to do so and that's an important note as well. People who do receive a standard rate of superannuation will also no longer have to have their entitlement affected because their partner receives a Government-administered overseas pension. So it enables greater clarity and greater security in that space.It's good to make sure that we are keeping a watch in this area in order to make sure we're reflecting the needs of what our population is. Look I'm proud to have a country that continues to assess and make sure superannuation payments are available to the population as I know how critical that is to so many New Zealanders. I commend this bill to the House.