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Legal and regulatory update for the life and health insurance sector

3 May 2021 – Government announced that the Productivity Commission will hold an inquiry into immigration settings to ensure New Zealand’s long term prosperity and wellbeing. Relevant web links are https://www.beehive.govt.nz/release/productivity-commission-inquiry-immigration-settings and https://www.productivity.govt.nz/news/inquiry-into-new-zealands-immigration-settings-confirmed/

4 May 2021 – The New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill, which proposes to raise the minimum residency qualification for New Zealand Superannuation from 10 years to 20 years after age 20, was reported back to Parliament from the Select Committee. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_80767/new-zealand-superannuation-and-retirement-income-fair

5 May 2021 – RBNZ released the May 2021 Financial Stability Report together with an updated Capital Review Implementation timeline. https://www.rbnz.govt.nz/news/2021/05/financial-system-sound-but-vulnerabilities-remain

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