Both are correct. Sorted shows NZ Super rates as weekly and annual amounts, which are helpful for budgeting. However if you receive NZ Super, it is actually paid into your account fortnightly. Therefore the net amount an individual person in a married or defacto couple could recieve is $489.42 per fortnight, which equates to $244.71 per week (the "couple both qualify (each)" amount in our table). The total amount a couple who both qualify could receive would be twice those amounts - $978.84 a fortnight or $489.42 a week (the "Couple both qualify (total)" amount in our table). For the full current rates see this page on the Work and Income website http://bit.ly/9kSktn
Your table states:
Weekly Annual
Single, living alone $318.12 $16,542
Single, sharing $293.65 $15,269
Couple, both qualify (total) $489.42 $25,449
Couple, both qualify (each) $244.71 $12,724
Yet the letter we got from the PM today states the married or defacto rate is $489.42 per FORTNIGHT.
Which is CORRECT
If the interest you are paying on the mortgage is greater than you earn on your savings you would be better of paying off your mortgage. One way of doing this would be to split your current mortgage and put about 50k on floating, which would be paid off straight away but you would still have the ability to re extend should you need to. If you then continue to pay $700 a month, much more of the principal and your interest costs fall and your mortgage would be paid off much quicker. However you would have to take into account any break fees the bank may charge you if you pay off a fied term mortgage early
This post refers to investment tax changes which came into effect on 1 April 2010. However in the May Budget, the government announced further changes to PIE rates which will take effect from 1 October 2010...
If in years to come there is not going to be any super for those who retire, why does the govt not look at cutting super for those still working full time. Make it when you stop work you collect super. How much will that save!!
It is time someone with some knowledge of costs etc looked at the LOA. It does not give you a living allowance with the Superannuation We pay the same costs i.e. insurances etc as the married couple do on less money .Someone please look