The New Zealand Pension Increase for 2025, commonly referred to as NZ Superannuation, has been confirmed and will bring vital financial relief to eligible retirees starting June 2025. The increase reflects the government’s annual adjustment based on inflation and average wage growth, aimed at ensuring senior citizens maintain a reasonable standard of living.
This detailed guide covers everything from payment increases, eligibility, and application processes to key dates and tax implications.
Summary Table: NZ Pension Increase 2025
Topic |
Details |
|---|---|
Effective From |
June 1, 2025 |
Increase Amount |
$25 – $45/week depending on status |
Payment Frequency |
Fortnightly (Every 2 weeks) on Tuesdays |
Eligibility Age |
65 years |
Application Portal |
|
Taxable |
Yes, subject to marginal tax rate |
Additional Support |
SuperGold Card, Winter Energy Payment, Accommodation Supplement |
What Is NZ Superannuation?
NZ Superannuation is a publicly funded pension paid to New Zealanders aged 65 and over. It serves as a foundational income to support retirees and is funded through general taxation. While it is not income-tested, it is taxable and calculated based on various factors including living situation and relationship status.
Eligibility Criteria for NZ Pension 2025
To qualify for the 2025 NZ Super:
- Age Requirement: Must be 65 years or older
- Residency Requirement:
- Must be a New Zealand citizen or permanent resident
- Lived in New Zealand for at least 10 years since age 20, with 5 years since age 50
Note: Even if you qualify by age, payments will not start automatically—you need to apply.
How to Apply for NZ Superannuation
1. Get a Client Number:
- Request online if you haven’t interacted with Work and Income before.
2. Register/Login on MyMSD:
- Complete the application form online.
- Provide required documents, including identification and bank details.
3. Submit Supporting Documents:
- You may be asked to upload documentation proving age, residency, and relationship status.
4. Finalize Application:
- Sign and submit your application following official instructions.
Note: You can apply 12 weeks before turning 65.
NZ Pension 2025: Updated Payment Amounts
If You Are Single:
Living Situation |
After-tax (M) |
Tax Code S (17.5%) |
SH (30%) |
ST (33%) |
SA (39%) |
Living alone or with dependent child |
$1,043.24 |
$1,001.24 |
$849.74 |
$813.38 |
$740.66 |
Living with another adult (not a partner) |
$963.32 |
$921.32 |
$781.82 |
$748.26 |
$681.38 |
If You Have a Partner:
Partner Situation |
After-tax (M) |
Tax Code S (17.5%) |
SH (30%) |
ST (33%) |
SA (39%) |
Both qualify for NZ Super |
$803.48 each |
$761.48 each |
$646.22 |
$618.56 |
$563.24 |
Only one qualifies for NZ Super |
$803.48 |
$761.48 |
$646.22 |
$618.56 |
$563.24 |
NZ Pension 2025: Payment Dates
Month |
Payment Dates |
January |
14, 28 |
February |
11, 25 |
March |
11, 25 |
April |
08, 22 (paid on 19 due to Easter) |
May |
06, 20 |
June |
03 (paid 31 May), 17 |
July |
01, 15, 29 |
August |
12, 26 |
September |
09, 23 |
October |
07, 21 |
November |
05, 18 |
December |
02, 16, 30 |
Taxation on NZ Superannuation
NZ Super is subject to PAYE (Pay As You Earn) tax based on your total income.
- If NZ Super is your only income, you can use the M tax code.
- If you earn additional income, use the correct secondary tax code (S, SH, ST, or SA).
Use the Inland Revenue Tax Code Calculator to verify your correct code.
Other Assistance for Pensioners
- SuperGold Card: Offers travel concessions and discounts on products/services.
- Winter Energy Payment: Paid automatically May to October.
- Accommodation Supplement: Helps with rent, board, or mortgage costs.
- Disability Allowance/Special Needs Grants: Support for health-related or hardship expenses.
Common Challenges Facing Retirees
Despite the increase, many older citizens face difficulties:
- Rising Living Costs: Expenses often outpace pension increases.
- Housing Costs: Rent and mortgage payments strain budgets.
- Insufficient Income: Some retirees rely on part-time work or savings.
- Tax Misunderstandings: Incorrect tax codes may reduce net income unnecessarily.
Frequently Asked Questions (FAQs)
Q1: Is NZ Superannuation automatically given at 65?
Ans. No. You must apply through Work and Income.
Q2: Can I work while receiving NZ Super?
Ans. Yes. NZ Super is not income-tested, but additional earnings are taxed.
Q3: What if I live overseas part-time?
Ans. You may still be eligible, but payments could be adjusted. Notify Work and Income.
Q4: How do I know my payment has increased?
Ans. Your adjusted amount will reflect automatically in your April 2025 bank deposit.
Q5: Where can I check updates and apply?
Ans. Visit the official Work and Income NZ site: www.workandincome.govt.nz
Conclusion
The NZ Pension Increase 2025 is a much-needed response to the financial challenges many retirees face. While it does not solve all cost-of-living issues, it helps provide a buffer against inflation. Retirees are encouraged to apply early, check their tax codes, and explore additional benefits for a more secure and dignified retirement.
Stay informed and take full advantage of available support by regularly checking the official Work and Income NZ website.
Click here to know more
