Payment rates for New Zealand Superannuation and for pensions
The payment rates for New Zealand Superannuation and Veteran's Pensions are set by legislation. At the "M" tax rate, the combined after-tax amount of New Zealand Superannuation payable to a married couple must be between 65% and 72.5% of the after-tax average ordinary-time weekly wage. A single person living alone receives 65% of the rate payable to a married couple, while a single person sharing accommodation receives 60% of that rate.
Table 2.3 shows rates for New Zealand Superannuation and Veteran's Pensions payable from 1 April 2008.
Table 2.3 Weekly payment rates for New Zealand Superannuation and Veteran's Pensions (payable from 1 April 2008)
|Status1||Payment rate excluding tax paid at "M" Rate2,3||Payment rate excluding tax paid at "S" Rate2,3|
|Married, each, both qualify||$219.90||$208.93|
|Married, each, only one qualifies4||$209.68||$198.71|
|Married, each, only one qualifies, and application accepted before 1 October 19914||$219.90||$208.93|
|Single, living alone||$285.87||$274.90|
|Single, living with others||$263.88||$252.91|
- "Married" includes people who are married, living as married, or in a civil union.
- All amounts shown are weekly rates, payable from 1 April 2008. New Zealand Superannuation and Veteran's Pension payments are made fortnightly at double the indicated rates.
- Rates shown are exclusive of Family Tax Credits paid by Inland Revenue.
- Where one partner is a non-qualified spouse (eg they are under the qualifying age or don't meet residency requirements), the amount paid is income tested. The qualified spouse can opt to receive the "Married" rate where only one partner qualifies. Rates shown for single people or where both partners qualify are not income tested.