Work and Income

Tips for coping with redundancy

If you have lost your job or are worried about being made redundant, there are steps you can take to ease the financial pressure.

NZ Superannuation - current after tax rates

The current NZ Super rates (as at 1 April 2010) after tax at rate 'M':

Qualifying as Weekly
rate
Annual rate
Single (living alone) $318.12 $16,542
Single (sharing) $293.65 $15,270
Married, civil union or de facto couple
(both partners qualify)
$489.42 $25,450
($12,725 each)
Married, civil union or de facto couple
(one partner qualifies)*
$465.48 $24,205
($12,102 each)
Married, civil union or de facto person
(partner not included)
$244.71 $12,725

Source: Ministry of Social Development. Effective 1 April 2010.
All taxed at M code, net rates.

*If you have a partner who doesn't already qualify for their own NZ Super, you can choose to 'include' them in your payments. If you do this you could both get paid but any other income either of you earn could affect how much you get. For help working out the best option, contact Work and Income on 0800 552 002 or www.workandincome.govt.nz.

These figures are intended as 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 or visit www.workandincome.govt.nz.

If you receive a pension from an overseas government, it is likely to be deducted from your NZ Super. For more details call Work and Income on 0800 552 002 and ask for the International Services office.

NZ Super is taxed before you get it, but you still need to pay tax on any other income you get. If you do have other income or receive an overseas pension, talk to Inland Revenue about your tax rate so you don’t get a tax bill at the end of the year. Call Inland Revenue on 0800 227 774 (have your IRD number handy).

Accommodation Supplement - Rosemary

Kiwi Story

Rosemary was nearly 65 and was looking forward to retiring from her part-time job. However, she was concerned ...

Government support

Residential care subsidy

Rest homes and private hospitals

Renting

Home ownership

Impact on government benefits

New Zealand Superannuation

New Zealand Superannuation (NZ Super) is a pension paid by the State to most New Zealand residents from age 65 until death.

Glossary: pension