Benefits, Student Allowances, NZ Super and Veteran’s Pension to increase
23 February 2009
Superannuitants, students, and people on Veteran’s Pension and benefits will receive increases of between $4 and $13 each week from 1 April 2009 the Minister of Social Development and Employment Paula Bennett announced today.
Superannuitants, students, and people on Veteran's Pension and benefits will receive increases of between $4 and $13 each week from 1 April 2009 the Minister of Social Development and Employment Paula Bennett announced today.
The increase of 3.38% in the net benefit and pension rates equates to the increase in the cost of living as measured by the Consumers Price Index (CPI) for the year to 31 December 2008.
Examples of the increases in the after tax weekly rates are:
- For a couple both qualified to receive NZ Super or a Veteran's Pension up $7.82 to $239.19.
- For a single person living alone getting NZ Super up $13.16 to $310.95.
- For a single unemployed person aged over 25 years, receiving the Unemployment Benefit, up $6.22 to $190.39.
- For a married couple receiving the Unemployment Benefit with no children, up $10.38 to $317.30.
- For a single student aged 18 to 23 years studying away from home receiving a Student Allowance, up $5.19 to a maximum of $158.65.
- For a single person over 18 receiving the Invalid's Benefit, up $7.78 to $237.97.
- For a sole parent with one child, receiving the Domestic Purposes Benefit, up $8.92 to $272.70.
The Orphan's Benefit and Unsupported Child's Benefit payments have increased to match the Foster Care Allowance up to $169.45 - the amount depends on the child's age.
There is no need for a further adjustment this year to maintain the New Zealand Superannuation couple rate payable above 66%.
The maximum available under the Living Costs component of Student Loans will increase by $5.24 to $160.24 per week, from 1 April 2009.
