World Bank data shows that in 2020 remittance as a share of Tonga’s GDP was close to 40%, nearly 19% for Samoa and just over 7% for Fiji, with New Zealand being one of the main sources of these funds.18 We recognise the economic importance of Pacific people in New Zealand being able to send money back to their home countries through remittances and maintaining financial corridors and services into the South Pacific countries continues to be of importance.
First, no society wants to see large numbers of its senior citizens relying entirely on government transfers, although there is fairly universal agreement across most countries that it is desirable to have some degree of public income support for people in their old age.