NZ Super

NZ Super

No change to NZ Super in Budget

The government’s decision to suspend automatic payments to the New Zealand Superannuation Fund does not affect New Zealanders’ fortnightly NZ Super payments.

Glossary: automatic payments
Automatic payments (APs) are a way of paying someone a set amount direct from your bank account, usually on a fixed day of the month. Automatic payments are ideal for bills that are the same amount each month, like rent.
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Retirement saving - now is good

With the recent introduction of new NZ Super rates and compulsory employer contributions to KiwiSaver, now is a good time to start thinking seriously about retirement saving.

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NZ Superannuation - current after tax rates

The current NZ Super rates (as at 1 April 2009) after tax at rate 'M':

Qualifying as Weekly
rate		 Annual rate
Single (living alone) $310.95 $16,169
Single (sharing) $287.03 $14,926
Married, civil union or de facto couple
(both partners qualify)		 $478.38 $24,876
($12,438 each)
Married, civil union or de facto couple
(one partner qualifies)*		 $454.98 $23,659
($11,829 each)
Married, civil union or de facto person
(partner not included)		 $239.19 $12,438

Source: Ministry of Social Development. Effective 1 April 2009.
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).

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Residential Care Subsidy - Viv and John

Kiwi Story

Viv was in her late 70s. Her husband John was in his 80s. John suffered a stroke a year ago and had been ...

Impact on government benefits

There are several government-provided benefits that can be reduced if you have other "income". The main benefits that could apply to a retiree include:

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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
An income paid at regular intervals to a retired person, by a government or through an employer superannuation scheme.
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Sources of income

Most retired New Zealanders get their income from two main sources - a pension from the government, called New Zealand Superann

Glossary: pension
An income paid at regular intervals to a retired person, by a government or through an employer superannuation scheme.
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