Understanding New Zealand Superannuation (NZ Super)
New Zealand Superannuation, or NZ pension, is a government payment for eligible residents aged 65 or older. Generally, it is not income or asset-tested, providing a stable income for many retirees. However, the actual amount received can be affected by your tax code and any other income. Rates are reviewed annually to align with wage growth.
2025 Weekly and Fortnightly Rates (After Tax)
The table below shows the after-tax weekly and fortnightly rates for 1 April 2025 to 31 March 2026, for those on the standard 'M' tax code. Payments are made fortnightly.
| Category | Weekly Rate (Approx.) | Fortnightly Rate |
|---|---|---|
| Single, living alone | $538.42 | $1,076.84 |
| Single, sharing accommodation | $497.00 | $994.00 |
| Couple, both qualifying | $828.34 each | $1,656.68 (combined) |
| Couple, one partner qualifies | $414.17 (for eligible partner) | $828.34 (for eligible partner) |
These figures are based on the 'M' tax code, which is standard if NZ Super is your main income and you have no student loan. Your living situation directly impacts the amount received.
The Impact of Tax Codes on Your Pension
Your tax code affects your net NZ Super payment. If you have other income (e.g., work, investments, overseas pension), your tax code may change from 'M' to a secondary tax code (like 'S' or 'SH'), resulting in higher tax on your NZ Super. It's vital to inform Work and Income (MSD) of all income to ensure the correct tax code and payment amount.
NZ Super Eligibility Criteria
Eligibility requires meeting age, residency, and time-in-NZ criteria.
- Age: You must be 65 or older.
- Residency: You need to be a NZ citizen, permanent resident, or hold a residence class visa.
- Time in NZ: You must have lived in New Zealand for a specific number of years since age 20, including at least 5 years since age 50. The total years required depends on your birth date, increasing for those born after July 1959.
The Application Process
Applying is necessary; it's not automatic. You can apply up to 12 weeks before your 65th birthday via the MyMSD online portal, providing identity and residency proof. Applying late means payments won't be backdated.
The SuperGold Card
Around your 65th birthday, you will automatically receive a SuperGold Card, offering discounts and free/cheaper public transport.
NZ Super vs. Cost of Living
While NZ Super provides a foundation, studies, such as those from Massey University, suggest it may not fully cover a comfortable retirement lifestyle for many. Supplementing with savings like KiwiSaver is often recommended to bridge this gap. These studies provide useful benchmarks for retirement costs.
Additional Payments and Support
Low-income retirees may be eligible for extra support:
- Accommodation Supplement: Helps with housing costs.
- Disability Allowance: Assists with disability-related expenses.
- Community Services Card: Reduces health costs.
Conclusion
To answer how much is NZ pension per week, the amount varies based on living situation and tax, providing a reliable retirement base. As of April 2025, weekly after-tax rates range from around $414 to $538. However, due to living costs, supplementing with personal savings is often advised for a comfortable retirement. Understanding eligibility and tax is crucial for maximizing your pension.
For more detailed information, visit the official Work and Income website. Work and Income NZ Superannuation
