2019 NZ Superannuation increase

A more detailed breakdown will be provided shortly.

https://www.workandincome.govt.nz/about-work-and-income/news/2019/benefit-and-payment

Benefit and payment rates 2019

18 March 2019.

Benefit and payment rates will increase on 1 April 2019, due to the Annual General Adjustment. Check out the new rates here:

Benefit and payment rates from 1 April 2019

Your first April payment

You’ll get your first payment at the new rate in the week 8 April (or in the week 15 April if you get paid fortnightly). This is because you’re paid for the week that’s just been.

Pension type Net weekly rate
(after tax at “M”)
Net weekly rate
(after tax at “S”)
Gross weekly rate
NZ Superannuation or Veteran’s Pension — standard rates
Single
Single, living alone $411.15 $392.30 $475.42
Single, sharing $379.52 $360.67 $437.14
Couples
Both you and your partner qualify (combined) $632.54 $594.84 $720.84
Both you and your partner qualify (each) $316.27 $297.42 $360.42
Only one of you qualifies and you include your partner in your payments (combined) $601.22 $563.52 $682.86
Only one of you qualifies and you include your partner in your payments (each) $300.61 $281.76 $341.43
Only one of you qualifies and you don’t include your partner in your payments $316.27 $297.42 $360.42
NZ Superannuation or Veteran’s Pension — non-standard rates
Married couple, with non-qualified spouse included before 1 October 1991 (total) $632.54 $594.84 $720.84
Married couple, with non-qualified spouse included before 1 October 1991 (each) $316.27 $297.42 $360.42
Qualified partner in rest home with non-qualified partner in the community $273.70 $254.85 $308.75
Hospital rate $45.28 Note 1 $50.53
Non-taxable amounts
War Pensioner’s Funeral Grant $2,558.71
World War I veteran’s lump sum payment on death $15,294.64
Other veterans lump sum payment on death $6,065.89
Veteran’s spouse’s lump sum payment on death $4,625.41

Note 1: The hospital rate is always taxed at the ‘M’ rate.

You can find more information about the New Zealand Superannuation and Veteran’s Pension rates here.

 

10 thoughts on “2019 NZ Superannuation increase

  1. Wendy

    MARK you are lucky as we all are to be getting a pension…as my old mum used to say its pennies from heaven and I am a pensioner now and think how lucky am I to be getting wages like this from the government….its amazing…..and if one was prudent and saved a little in their youth it shouldn’t be a hardship to manage on the Super…..I think we are all extremely lucky.

    Reply
    1. Kern Crafar

      I do NOT consider myself “lucky”! Taxes at 66% in the $dollar existed…various schemes prevailed and in the 1990’s the retirement age was raised from 55 for woman and 60 for men to 65? Current superannuation rates $400 per week when minimum wage =$17.60 (to be $20) x 40hrs =NZ$705….so what is the “Living Wage”?

      Reply
    2. Mark Huston

      Hi Wendy
      Thank you for your response and I agree with your retirement earnings to supplement NZ Superannuation.
      I was just amazed in the press last year that some people were spending the Heating Allowance to buy essentials.
      In regards to Tracey Atkins submission that closes at the end of this month, retirees are asking why do we need to pay tax, request a living wage, increased Senior Card benefits and housing.
      With the move of the Baby Boomers moving into retirement from now and is expected to reach a third of the population in twenty years, they will represent a third of the current population. The major political parties will have to stand up and take notice of this voting sector.

      Reply
  2. Anonymous

    Does the new rate of superannuation take into account the fact that the basic wage has increased to $17.70 as from today as well as the the yearly cost of living adjustment. Does not seem quite right.

    Reply
  3. Mr. K.L. Crafar

    And the minimum wage goes to $? per hour on 1 April 2019! So by what percentage has the minimum wage increased , s’il vous plait? Surely this is much higher than the increase in the CPI? Moreover wage increases for those in the Public Service and Government Agencies have also increased significantly by way of threat of ‘strike’ action Is this not ‘Age Discrimination’/’Elder Abuse’? Gratzie

    Reply
  4. Mark Huston

    Can you please advise if there has been any commentary or discussion on why fully- fledged – that is, their only income – pay tax on NZ Superannuation. After all, we don’t work for a living and we have paid taxes up to the retirement age of sixty five years of age.

    Reply
    1. Ken Crafar

      Good questions!
      1. Tax on Pension – M.P’s and there Parties are pre computer in their thinking and comprehension. Superannuitants are too cowed/grateful to fight for their rights? They suffer in silence? The Govt. calls it a “Benefit” not an entitlement.
      2.Heating entitlement applies to more than those on Superannuation! You don’t need to have separate ratio’s for one house where two people live together? Just as super for a couple is approx. one and a half times that of an individual?

      Reply
  5. Mark Huston

    Could you please advise me on the Heating Allowance in regards to payment for a couple when they both qualify. I understand the eldest gets the full benefit and the second qualifier gets half the benefit. I also understand the eldest qualifier gets the total amount paid into his or her bank account.

    Reply
  6. Mark

    Rather disappointing increase for superannuation. I thought it would be based on the Nurses settlement which is the only entity that has an agreement with the government. There agreement was 14.5- 16.6% , depending on their various levels. I calculated on the medium salary increase at 66% would equate to $50.90 per fortnight for a couple rate per week,net.

    Reply
    1. Alec Waugh Post author

      Rates of NZS are increased with effect from April each year using the “wage band” indexation
      formula that is set out in legislation. Essentially this formula performs two functions: it adjusts the
      pension for any increases in the cost of living, as indicated by rises in the Consumers Price Index
      (CPI), (1.89%) and it can also increase the pension amount when average weekly earnings in the economy
      rise faster than the cost of living. A standard formula

      Reply

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