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.

 

2 thoughts on “2019 NZ Superannuation increase

  1. 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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