Introduction to Superannuation and Pensions

Introduction to New Zealand Superannuation

Most recipients of New Zealand Superannuation are aged 65 years or over. New Zealand Superannuation is paid by Work and Income.

New Zealand Superannuation is available to people who have reached the age of eligibility (currently 65 years) and who meet other eligibility criteria (eg residency). People who don't meet the eligibility criteria, but who are married to a qualified recipient of New Zealand Superannuation, may receive this pension as a "non-qualified spouse".

Introduction to Pensions

Most pensions are paid to people who have reached the age of 65 years. Pensions paid by MSD include Veteran's Pensions and War Disability Pensions. These pensions aim, in part, to acknowledge recipients' contribution to society as members of the armed forces.

Veteran's Pensions are paid by Work and Income, and are available to ex-service personnel who are:

• aged 65 years or over and qualified for a War Disablement Pension, or
• aged under 65 years and unable to work because of a disability.

Surviving spouses of Veteran's Pension recipients may choose to continue receiving a Veteran's Pension at the single person rate.

Until 1 July 2008, War Disablement Pensions were paid through MSD's Students, Seniors and Integrity Services service line. From 1 July 2008, administration of these pensions was moved to Veterans' Affairs New Zealand. Eligibility for a War Disablement Pension, and the rate at which a War Disablement Pension may be paid, are determined via an assessment of the level of disability that the client has as a result of military service. Payments through MSD were determined through assessments carried out by a board of assessors who were independent of MSD. War Disablement Pensions are not income tested or asset tested, and clients may receive one along with income from any other source, including other benefits, pensions or income from employment.

Income testing and receipt of supplementary benefits

New Zealand Superannuation and pensions are not income tested except where:

• a non-qualified spouse is receiving New Zealand Superannuation or a Veteran's Pension, or
• a qualified Veteran's Pension recipient is aged under 65 years.

Clients receiving New Zealand Superannuation or a pension are eligible to receive supplementary benefits from Work and Income to assist with meeting necessary costs of living. Supplementary benefits paid to people receiving New Zealand Superannuation or pensions are income tested and asset tested in the same way as for other clients.

Eligibility criteria for New Zealand Superannuation and Veteran's Pensions are described in their sections.