The New Zealand Superannuation (NZ Super) weekly rate varies by living situation, but as of early 2025, a single person living alone gets around $538 after-tax, a single sharing gets about $497, and each person in a couple gets around $416 (after-tax), with higher gross (before tax) amounts available, though rates are updated regularly. These figures can differ slightly between sources as they are often based on specific dates and tax codes (like 'M').
Find out the current rates of New Zealand Superannuation (NZ Super) in seconds. Our table and guide outlines everything you need to know about receiving your fortnightly payment. If you're aged 65 and over and meet the qualifying criteria, you will receive up to $27,994.53 per year after tax.
Yes, a New Zealander living in Australia can get the New Zealand Superannuation (NZ Super) or Veteran's Pension, thanks to a Social Security Agreement, but you must meet residency criteria in both countries and often need to claim the Australian Age Pension too, with the payments coordinated, meaning you might get a bit from Australia and a bit from NZ, or just one, depending on your combined residency and income/assets. You generally need to have lived in NZ for a qualifying period (e.g., 10 years from age 20, with 5 of those years after age 50) and also meet Australian residency rules, often needing to live in Australia for 10 years.
NZ Superannuation is a universal payment for New Zealand citizens and residents who are 65 or older. Note: You need to apply for NZ Superannuation (NZ Super). You do not automatically get it once you turn 65.
Which Countries Have the Most Sustainable Pension Systems? Iceland, Denmark, and the Netherlands have the most financially sustainable pension systems due to well-balanced contribution rates and participation.
New Zealand citizens claiming payments in Australia
If you're a New Zealand citizen living in Australia you may be eligible to get Centrelink payments or concession cards.
Australia tends to have higher housing and service costs, but stronger retirement income support. New Zealand often has lower daily lifestyle costs in regional areas, but less generous pension support.
When you turn 65, you will probably start receiving New Zealand Superannuation. As of February 2024, a single person living alone gets $992.74 a fortnight (after tax) and a couple gets $1,527.28 a fortnight (after tax). The reality is New Zealand Superannuation on its own may not be enough to live on.
A single homeowner with more than $321,500 in assets will start to see a decrease in their Age Pension payments. If their assets reach $714,500, their Age Pension payments will be reduced to $0. For a non-homeowner couple, the maximum assets cut-off is $1,332,000.
Your NZ Super or Veteran's Pension payments will continue if you: intend to travel overseas for less than 26 weeks.
Under the International Social Security Agreement (sch 3 Social Security (International Agreements (Act) 1999 (Cth)), New Zealand citizens can claim Age Pension, Disability Support Pension and Carer Payment from Centrelink if they hold a Special Category Visa and reside in Australia.
International Services - Work and Income.
New Zealanders who are 67 or older and live in Australia may be able to get both an Australian age pension and New Zealand superannuation. This depends on the amount of their working life they spent in each country.
How Much Do You Need to Retire at 65? If you plan to retire at 65, a general rule of thumb is to have around 20 times your annual retirement expenses saved.
Eligibility criteria and requirements of the NZ Pension
Residency: You need to be a New Zealand citizen or permanent resident. Additionally, you must have lived in New Zealand for at least 10 years since turning 20, with at least 5 of those years after turning 50.
Yes, retiring comfortably with $500,000 is achievable. This amount can support an annual withdrawal of up to $34,000, covering a 25-year period from age 60 to 85. If your lifestyle can be maintained at $30,000 per year or about $2,500 per month, then $500,000 should be sufficient for a secure retirement.
It's generally cheaper to live in New Zealand for day-to-day expenses like groceries, restaurants, and rent (especially outside major cities), but Australia often offers higher average salaries, potentially leading to more disposable income despite higher overall costs, particularly housing in Sydney and Melbourne. While consumer prices and rent are lower in NZ, Australia's larger economy means wages are significantly higher, balancing out the cost difference and sometimes favoring Australia for savings potential with a good job, say www.movingtoaustralia.co.nz, www.studies-overseas.com/blogs/new-zealand-vs-australia-which-one-is-best-to-study-abroad https://www.studies-overseas.com/blogs/new-zealand-vs-australia-which-one-is-best-to-study-abroad https://www.upakweship.com/blog/living-in-new-zealand-vs-australia/ and this Reddit post https://www.reddit.com/r/newzealand_travel/comments/1kx2qqh/is_nz_expensive_compared_to_australia/.
Yes, NZ$70,000 is considered an average to decent salary in New Zealand, hitting the national average but falling short of "comfortable" in expensive cities like Auckland, especially for families; for a single person, it's generally enough to cover basic living costs and some savings, but luxuries like frequent dining out or big travel might be tight, especially in major cities.
New Zealand citizens and permanent residents of New Zealand (prior to arriving in Australia) who are temporarily visiting Australia can get free emergency treatment at an Australian public hospital under the Reciprocal Health Care Agreement .
Going on holiday
If you get NZ Super or Veteran's Pension and plan to go overseas for 26 weeks or less, your payments may continue while you're away. If you're delayed and return to NZ after 26 weeks, we may still be able to help.
Dual nationals have the right to hold a passport from both countries, and get the full benefits of citizenship such as social security payments, health care, and voting rights. New Zealanders becoming Australian citizens do not lose any rights, but gain additional rights.