Increases based on 7.2% CPI figure.
Work and Income website contains the official details, and is the source document for referral to individual circumstanceshttps://www.workandincome.govt.nz/products/benefit-rates/benefit-rates-april-2023.html
NZ Super and Veteran’s Pension
| Pension type | Net weekly rate (after tax at ‘M’) |
Net weekly rate (after tax at ‘S’) |
Gross weekly rate |
| NZ Super or Veteran’s Pension – standard rates | |||
| Single | |||
| Single, living alone | $496.37 | $477.52 | $578.67 |
| Single, sharing | $458.18 | $439.33 | $532.43 |
| Couples | |||
| Only one of you qualifies | $381.82 | $362.97 | $439.79 |
| Both you and your partner qualify (combined) | $763.64 | $725.94 | $879.58 |
| Both you and your partner qualify (each) | $381.82 | $362.97 | $439.79 |
| Only one of you qualifies and you include your partner in your payments (combined) – grandparented since November 2020 | $725.84 | $688.14 | $834.08 |
| Only one of you qualifies and you include your partner in your payments (each) – grandparented since November 2020 | $362.92 | $344.07 | $417.04 |
| NZ Super or Veteran’s Pension – non-standard rates | |||
| Couple, with non-qualified spouse included before 1 October 1991 (total) | $763.64 | $725.94 | $879.58 |
| Couple, with non-qualified spouse included before 1 October 1991 (each) | $381.82 | $362.97 | $439.79 |
| Hospital rate | $52.89 | Note 1 | $59.08 |
| Non-taxable amounts | |||
| Veteran’s lump sum payment on death | $7,085.77 | ||
| Veteran’s spouse’s lump sum payment on death | $5,403.11 | ||
Note 1: The hospital rate is always taxed at the ‘M’ rate.
You can find more information about the NZ Super and Veteran’s Pension rates here.
For more information about war pensions and allowances, please phone Veterans’ Affairs New Zealand on 0800 483 8372 (0800 4 VETERAN)
Prior to the 2023 election Nicola Willis said “National intended that super payments would continue to be linked to 66 percent of average after-tax incomes.” The 2023 Super increase was based on the CPI figure (as above), so why did Willis say ‘will continue’ when clearly this years increase was not based on the percentage of the average income, or am I not reading this right.
NZ Super is calculated using CPI increse formula and the movement in average wage