NZ Super rates from 1 April
NZ Super rates from 1 April
Each year the government reviews the level of payments for New Zealand Superannuation (NZ Super) taking into account increases in the cost of living and wages.
Here's a summary of the new (maximum after tax) rates for NZ Super from 1 April 2010:
| 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 |
(Net rates after tax at 'M' tax code)
For the full list of weekly gross and net rates visit the Work and Income website.
Note these figures are a guide only. If you want to know more about the level of NZ Super you would be entitled to, contact Work and Income on 0800 552 002.
User comments Why should I pay for this
Of course the pension will still be there, just the age of entitlement will be raised. For the past 70 odd years taxation included for the eventual pension of the person paying tax. The fact that sucessive governments spent without an eye to the furture has created a problem.
Posted at 08:58 pm on April 06, 2011 NZ Superannuitants
I am on NZ Super through no fault of my own apart from getting older.I have just received my motor relicensing form and find to my horror the size of the ACC payment which seems to have doubled this year.Now, as a Surperannuitant I would get doctors and part physiio fees but nothing else.Why do we have to pay so much when we don't get much benefit? Also the govt GST is also crippling and I need that car.Elly
Posted at 09:59 am on April 06, 2011 superannuation
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!!
Posted at 10:08 am on May 27, 2010 Living alone Allowance
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
Posted at 04:38 pm on May 26, 2010 the younger people
Well I like to say I'm younger, I am thirty five. My generation including me paid for their own tertiary education, and have been contributing taxes for the the last eighteen years. The national super burden is getting larger so more and more of our taxes go into paying that yet no one my age expects superannuation to be around when we retire. Most people my age I know don't see themselves retiring until they are probably in their late seventies. Why, well we don't think we will be able to afford it. Living off savings for twenty years will be beyond most people.
I think older people should be thankful they are getting on average near twenty years of funded retirement, oh the luxury...it won't be like that for us.
I think a way for the country to afford national super would be to link it to the average age of death. When it was set up it people were not expected to have a twenty year retirement. I think a reasonable entitlement age would be ten years before the average age of death, and as this slowly crept up or down then so would the national super entitlement age. Then I think we might be able to afford it.
Posted at 04:16 pm on May 19, 2010 
