Basis for Change
The British government is considering an overhaul of its outdated pension scheme based on the current NZ system. According to the Times, the state of women’s pensions in the UK is “a national scandal” in urgent need of attention. In NZ, a flat-rate payment equal to approximately £94.48 per week is made to all people over 65, on the condition that they have lived in the country for at least ten years. Raising the income of elderly women means that only around 5% of pensioners live in poverty, compared to 20% in Britain.