Retirement

Dealing with reduced investment income

Tips for dealing with reduced investment income in retirement:

A way to use your money to make it grow.

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Ten steps to getting Sorted for retirement

Follow these ten steps to get sorted for a more comfortable retirement...

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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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