Superannuation
7 April 2022
New Zealand Superannuation Pay Rise
If you are getting the New Zealand Superannuation (NZ Super), the rates have gone up.
The changes amounting to a pay rise of approximately 5%, which is expected to compensate for some of the recent steep rises in the cost of living.
Those receiving NZ Super will gain approximately $52 a fortnight for a single person and $80 a fortnight for a couple.
- Single people living alone will get an after-tax rate of $462.94 on the 'M' tax rate or $444.09 on the 'S' tax rate.
- Single people sharing accommodation will get $427.33 or $408.48 respectively.
- Couples who combine their entitlements will get $712.22 at the 'M' rate and $674.52 at the 'S' rate. Assessed separately, they each will get $356.11 and $337.26 per week.
Changes implemented in as of 1 April 2022, with it hitting bank accounts for the first time on 12 April. That means extra in the wallet for Easter treats.
How much extra on top of NZ Super do you want a fortnight?
Get a Lifetime information pack today