8. BARBARA STEWART (NZ First) Link to this
to the Minister for Social Development and Employment
How many superannuitants and veterans will benefit from changes to the rate of New Zealand superannuation and the veterans pensions from 1 April?
Hon DAVID BENSON-POPE (Minister for Social Development and Employment) Link to this
More than 485,000 New Zealand superannuitants and over 9,000 veterans pensioners—that is, more than 494,000 older New Zealanders—will benefit from changes to the rate of New Zealand superannuation and veterans pension from 1 April 2006.
By how much will the entitlements of recipients of New Zealand superannuation and the veterans pension increase as of 1 April?
Hon DAVID BENSON-POPE Link to this
The rate of superannuation is increasing by 3.16 percent. That means an increase of $646.88 per year for a married couple, and an increase of $420.68 per year for a single person living alone.
Georgina BeyerHon DAVID BENSON-POPE Link to this
No. The last National Government dropped the wage relationship for the married couple rate of New Zealand superannuation in 1998 from 65 percent of the net average wage to 60 percent. This affected the superannuation rates in 1999. The Labour-led Government restored the 65 percent floor from 1 April 2000.