Finance Minister Bill English is continuing to rule out a rise in the age of eligibility for the pension, while NZ First leader Winston Peters says is only a matter of time before pensions are "adjusted".

"The National Party's cheerleaders, behind the scenes, have mounted a big campaign to get the pension age increased and the amount reduced," Mr Peters said in a speech in Northland on Sunday.

While Mr English told TV One's Q+A programme that the issue of raising the eligibility age for national superannuation from 65 was a bit of a distraction.

"The government's position on that has been quite clear going back to 2008, that we wouldn't change the eligibility for national super, and 600,000 people over 65 relied on that undertaking. We are not going to change that," Mr English said.

Mr Peters said a change to the asset test when a pensioner goes into residential care was hidden in the budget.

"It is a punishment dished out to those who save for their retirement and own their own home.

"More and more pensioner homes will be sold to pay for residential care," he said.

The government is saving $16.4 million by slowing the rate of a rise in an asset test threshold applying to subsidies for residential care for the elderly.