Super, benefits, allowances rise from Sunday
More than half a million older New Zealanders will get up to an extra $13 a week as a result of increases to Superannuation and Veterans Pensions to be introduced on 1 April, says Social Development Minister, David Benson-Pope.
The Superannuation and Veterans' rates will increase by five per cent, as a result of the annual Consumers Price Index (CPI) adjustment and the government's post-election promise to ensure that older New Zealanders benefit from increasing wage levels.
"Older New Zealanders deserve to share in the economic success New Zealand is experiencing," David Benson-Pope said. "The Labour-led government is committed to ensuring Superannuation and Veteran Pension rates are not less than 66 per cent of the net average weekly wage as at 1 April 2007, in line with our agreement with New Zealand First."
From April 1, single superannuitants living alone will receive an extra $13.16 per week and couples an extra $20.24 per week.
Benefits and student allowances will also increase from 1 April and income thresholds for the Community Services Card will rise.
The increase of 2.63 per cent in the rates of benefits, allowances and Community Services Card thresholds equates to the increase in the cost of living for 2006, as measured by the Consumers Price Index.
Examples of the increases in the after tax weekly rates are:
For a single person over 18 receiving the Invalids Benefit, up $5.72 to $223.10
For a sole parent with one child, receiving the Domestic Purposes Benefit, up $6.55 to $255.65
For a single student aged over 25 years studying away from home receiving a Student Allowance, up $3.81 to $148.73
1 April will also see a range other policies for families come into force, including a $10 per child, per week boost to Working for Families tax credits, the delivery of a minimum four weeks annual leave entitlement, and a 9.8 per cent increase in the minimum wage.
"Taken together, these initiatives and adjustments amount to a massive delivery on this government's commitment to families and to improving the living standards of all New Zealanders," David Benson-Pope said.
Further details are available from: www.msd.govt.nz
The Superannuation and Veterans' rates will increase by five per cent, as a result of the annual Consumers Price Index (CPI) adjustment and the government's post-election promise to ensure that older New Zealanders benefit from increasing wage levels.
"Older New Zealanders deserve to share in the economic success New Zealand is experiencing," David Benson-Pope said. "The Labour-led government is committed to ensuring Superannuation and Veteran Pension rates are not less than 66 per cent of the net average weekly wage as at 1 April 2007, in line with our agreement with New Zealand First."
From April 1, single superannuitants living alone will receive an extra $13.16 per week and couples an extra $20.24 per week.
Benefits and student allowances will also increase from 1 April and income thresholds for the Community Services Card will rise.
The increase of 2.63 per cent in the rates of benefits, allowances and Community Services Card thresholds equates to the increase in the cost of living for 2006, as measured by the Consumers Price Index.
Examples of the increases in the after tax weekly rates are:
For a single person over 18 receiving the Invalids Benefit, up $5.72 to $223.10
For a sole parent with one child, receiving the Domestic Purposes Benefit, up $6.55 to $255.65
For a single student aged over 25 years studying away from home receiving a Student Allowance, up $3.81 to $148.73
1 April will also see a range other policies for families come into force, including a $10 per child, per week boost to Working for Families tax credits, the delivery of a minimum four weeks annual leave entitlement, and a 9.8 per cent increase in the minimum wage.
"Taken together, these initiatives and adjustments amount to a massive delivery on this government's commitment to families and to improving the living standards of all New Zealanders," David Benson-Pope said.
Further details are available from: www.msd.govt.nz