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.