NZ Super

NZ Super

NZ Super rates increased from 1 April

Posted by Peter in NZ Super, 31 March 2011

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.

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NZ Super rates from 1 October

Posted by Peter in NZ Super, 24 September 2010

NZ Super payments are increasing from 1 October because of cuts to personal tax rates, plus a special increase to compensate for the rise in GST from 12.5% to 15%

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NZ Super rates from 1 April

Posted by Peter in NZ Super, 19 March 2010

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.

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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
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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 2011) after tax at rate 'M':

Qualifying as Weekly
rate		 Annual rate
Single (living alone) $339.92 $17,676
Single (sharing) $313.78 $16,317
Married, civil union or de facto couple
(both partners qualify)		 $522.96 $27,194
($13,597 each)
Married, civil union or de facto couple
(one partner qualifies)*		 $497.02 $25,845
($12,923 each)
Married, civil union or de facto person
(partner not included)		 $261.48 $13,597

Source: Ministry of Social Development. Effective 1 April 2011.
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

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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
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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
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