New Analytical Notes Model Pension ScenariosThe Treasury has published two Analytical Notes, the latest in a series of background papers to support the Treasury’s 2025 Long-term Fiscal Statement. These papers contribute to the evidence base underpinning public discussion of New Zealand’s long-term fiscal sustainability. This Analytical Note focuses specifically on changing the age of eligibility from 65 years of age to higher ages. The scenarios presented are hypothetical analytical exercises designed to illustrate the mechanisms at play within the model rather than represent specific policy proposals. They do not necessarily reflect the views of the New Zealand Treasury or the New Zealand Government.