Prime Minister Bill English says there may be changes to superannuation but voters will know of his intentions before this year's election.
In an interview on TV3 current affairs programme The Nation on Saturday, Mr English said there might be a "reset" around the existing policy.
Former Prime Minister John Key was protective of the current policy and famously said he would resign if eligibility was tightened.
The current policy means every New Zealander, over the age of 65, can receive a weekly superannuation benefit, regardless of wealth or income.
In the interview, Mr English said on several occasions that he hadn't made the "same undertaking" as Mr Key.
"I haven't made the same undertaking as John, so we have the opportunity for a bit of a reset there," he said.
When pressed by journalist Lisa Owen into the true meaning of "a bit of a reset", Mr English said:
"Well, we are just working through the long term affordability."
The Prime Minister acknowledged that any changes in policy would be of interest to voters but said they would have to "wait and see".
"We would not anticipate any drastic change... we've benefited from the stability over the last seven or eight years."
Mr English said if any changes were to be made voters would have plenty of notice.
"People deserve to know what the government's view is when they go to the polls... you'd expect people to know what the government's position is."
Labour leader Andrew Little said English needed to "come clean" about his intentions around Superannuation and whether he is considering raising the entitlement age of 65.
"His comments on Newshub's The Nation today that it was time for a 'reset' on superannuation will send alarm bells ringing in the households of many hard working Kiwis.
"This is just more dithering from Bill English. What are you planning Bill? Raising the age, reducing payments?
Mr Little said the National Government had "not put a cent into the New Zealand Superannuation Fund" which was catching up on them.
"The fund now has a $20 billion gap because of National's decision to stop contributions," Little said.
"At least John Key was unequivocal on this. Bill English has made it clear today he's not bound by that promise."
Mr Little said Labour's policy on superannuation was clear.
"A Labour Government I lead will not raise the entitlement age for superannuation and we will re-start contributions to the New Zealand Superannuation Fund."
The election will be held on September 23.
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Comments
This government was elected by voters with policies set out at the last election.
Mr English is not an elected PM so one would think any changes to super by national should be put before the public at the next election. Changes to super before this year's election may well have negative effect on National's electoral changes. National says there is a surplus yet hasn't pay into the super fund for three terms? Little says he can and will. National's policies have not led to a good sustainable superannuation policy which will cost us dearly.
You will have to do something apart from raising age of eligibility then. Taxpayers are mainly young. Giving public money to the wealthy is unfair to them, and others.
It wont be means tested . may go up to 67. no fuss if he hits hard he will lose votes.