The New Zealand government supports eligible New Zealand citizens aged 65 or older with NZ super cash payments to protect them from poverty. The elderly of NZ who meet the eligibility of NZ super can check the payment rates for 2024 and other details here to manage their expenses well.
NZ Superannuation Rates 2024
The New Zealand government started investing in the NZ Superannuation Fund in 2003 to fund the NZ super universal retirement benefits for elderly citizens to ensure they can live a quality life during their retirement days. The NZ Superannuation fund funds the NZ Super cash payment to reduce poverty among old age people.
The NZ government annually adjusts the NZ Super rates to ensure they match with cost of living and beneficiaries receive enough payment to survive the inflation. The rates depend on CPI (Consumer Per Index). Usually, the authority announces NZ super rates on 01 April. The Super rates for 01 April 2024 to 31 March 2025 were announced earlier, the NZ Super recipients can check the rates for 2024 based on their living situation, tax code, and relationship below:
- When you are single and living alone or with a dependent child:
| Living Situation | Tax Code | ||||
| M | S | SH | ST | SA | |
| When you are living alone or with a dependent child | $1043.24 | $1001.24 | $849.74 | $813.38 | $740.66 |
| When you are living with someone either ages 18 or above or a person staying more than 13 weeks in the 26 weeks | $963.32 | $921.32 | $781.82 | $748.26 | $681.38 |
- When you have a partner:
| Living Situation | Tax Code | ||||
| M | S | SH | ST | SA | |
| When are both of you eligible for the NZ Super | $803.38 for each | $761.48 for each | $646.33 for each | $618.56 for each | $563.24 for each |
| When only one person eligible for the NZ Super | $803.38 | $761.48 | $646.33 | $618.56 | $563.24 |
Factors that affect your NS Super Payments 2024
As we have mentioned, NZ super payout depends on tax code, living situations, and your filing status, the changes in any of them can affect your NZ Super payment. Here are the factors that can affect your NZ Super payment and how:
- If you live overseas, it may affect your NZ Super payment, you cannot receive the benefit unless you meet the particular conditions, such as you are not moving to the UK, etc.
- If you have a partner who is included in your NZ Super before 2020 but does not qualify for the benefit will not receive the payments once you leave the NZ.
- Your and your partner’s combined income may affect your NZ Super payments. If your combined income rate before tax is above $17,49.76, your payment will be reduced.
- If you are single and have income over $39,034.91 a year, it may affect your payment.
- If your tax code is changed, it will affect your NZ Super payment accordingly depending on the tax code. When you receive other income other than NZ super, your tax code can change reducing the NZ Super payment.
What makes you eligible for the NZ super?
The New Zealand elderly who meet the following eligibility requirements can apply for the NZ Super:
- When your age is 65 years or older
- When you are a NZ citizen/ NZ permanent resident/ or hold an NZ Residence Class Visa
- When you have lived in NZ for a certain number of years from the age of 20, the number of years depends on your date of birth.
- You can also apply when you are an ordinary resident in New Zealand, Niue or Tokelau, and the Cook Islands.
When will you receive the NZ Super?
The eligible NZ citizens who applied for the NZ super receive the payments based on their living situation, tax code, filing status, and all fortnightly or biweekly on Tuesdays. The authority has released the payment calendar on the official website, based on that calendar, the recipients can expect the upcoming NZ super payment on the following dates:
| Payment Month | NZ Super Payment |
| November | 05 Nov 2024 |
| 19 Nov 2024 | |
| December | 03 Dec 2024 |
| 17 Dec 2024 | |
| 27 Dec 2024 (paid early due to New Year holiday |
When can you apply for the NZ super?
The NZ citizen who meets the eligibility criteria can apply for the retirement benefit NZ Super when they meet the following conditions:
- When you are turning 65 years old in 12 weeks.
- When you have already attained the age of 65 years.
How to apply for the NZ Super?
When you meet the eligibility conditions, you can apply for the NZ Superannuation retirement benefit. To apply for the NZ Super, you will need the following information:
- IRD number and tax Code
- Your partner details when your partner has traveled or lived abroad and was born abroad.
- Your bank account details
Once you have the above information, you can submit the NZ Super form online through the MyMSD account. You must submit the application within 20 days after you start the application process.
You would need your client number which you may receive when you first interact with the authority and your mobile number to register the MyMSD account. You can fill out the NZ super application form and complete the form.
After you submit the NZ super application form and upload the supporting document, you have to verify your identity and wait for the authorities to call. The authority may ask you to print the application form and send it to the authority with the relevant documents.
The NZ Super recipients will receive the NZ SuperGold card after their NZ Super application is approved, the card offers discounts and special offers to thousands of business stores. The NZ Super recipients will soon receive their November payments, so do check your bank account.
