The New Zealand Government is set to implement changes to the NZ Superannuation (NZ Super) payment rates in 2025. The adjustments aim to support older adults amid rising living costs. In response to increasing living costs, the government has announced new payment rates for the NZ Superannuation and Veteran’s Pension, effective from April 2025:
Single Living Alone: NZD $1,083.56 per fortnight (up from NZD $1,042.12)
Single Sharing Accommodation: NZD $997.92 per fortnight (up from NZD $958.32)
Couples (Both Qualify): NZD $1,110.12 per fortnight (up from NZD $1,071.78)
Couples (One Partner Qualifies): NZD $857.12 per fortnight (up from NZD $823.54)
The government reviews pension payment rates annually to ensure they reflect changes in the Consumer Price Index (CPI) and average wage growth.
With high inflation in early 2025, the government aims to provide more financial stability to pensioners. Single pensioners living alone will see the largest increase. Couples where both partners qualify for the pension will receive an additional amount per fortnight.
Veterans receiving the Veteran’s Pension will also see equivalent increases. To further support pensioners, the government is also introducing:
Winter Energy Payment Increase: The Winter Energy Payment will see a 10% increase to help with heating costs. Cost of Living Adjustment: An additional one-off payment of NZD $100 will be made to all pensioners in August 2025.
Increased NZ Super payment rates
Health Subsidy Expansion: Eligibility for the Community Services Card will be widened, allowing more pensioners to access subsidized healthcare and prescriptions. You are eligible for NZ Super if you are 65 years or older, a New Zealand citizen or permanent resident, and have lived in New Zealand for at least 10 years since age 20, with 5 of those years after age 50.
The new rates will take effect from April 2025, and the first payments at the new rates will be made from the first fortnightly payment date in April. Payments will continue to be made fortnightly to the nominated bank account. To maximize your NZ Pension benefits in 2025:
Apply Early: Submit your application 8 weeks before you turn 65 to avoid delays.
Keep Your Details Updated: Ensure your bank details and personal information are accurate. Check for Extra Assistance: You may qualify for Accommodation Supplement, Disability Allowance, or other benefits. Review Your Tax Code: Make sure you’re on the correct tax code to avoid overpaying on your pension income.
Existing recipients will automatically receive the increased amount from April 2025. Contact Work and Income NZ if you don’t receive the new payment rate by the expected date.
Image Credits: Photo by Ömer Faruk Bekdemir on Unsplash
