NZ Superannuation Rates 2024: Fortnightly Amounts

If you’ve started receiving New Zealand Superannuation or are planning for retirement, the fortnightly amount you get depends heavily on your living situation and tax code. The 1 April 2024 adjustment added roughly 4.7% to payments, lifting the standard single rate to $1,294.74 per fortnight before tax. This guide breaks down the exact 2024 rates, shows what lands in your account after tax, and explains what the 2025–2026 projections mean for your household budget.

Single living alone (2024): $1,294.74 gross per fortnight ·
Single sharing (2024): $1,191.14 gross per fortnight ·
Couple both qualify (2024): $984.28 each gross per fortnight ·
Annual increase date: 1 April each year ·
Next projected increase: +3.6% estimated in 2025

Four living situations, four distinct fortnightly amounts. The table below shows gross and net values side by side, using the standard M tax code.

How much is NZ Super per fortnight?

What are the current before-tax amounts?

As of the 1 April 2024 adjustment, the gross fortnightly amounts are set by Work and Income (the government agency administering NZ Super) and differ by living situation:

• Single living alone or with a dependent child: $1,294.74 gross (Work and Income – NZ Super rates)
• Single sharing accommodation with someone who is not a partner: $1,191.14 gross (Work and Income – NZ Super rates)
• Couple where both partners qualify: $984.28 each gross (Work and Income – NZ Super rates)
• Couple where only one qualifies: $984.28 gross (Work and Income – NZ Super rates)

The implication: the spread between living alone and sharing accommodation is over $100 per fortnight, reflecting higher fixed costs for solo households.

How do marital status and living situation affect payment?

Your living situation determines which rate tier you fall into. The key distinction is whether you live alone, share with a non-partner, or are part of a couple. Sorted (New Zealand’s independent money guide) confirms that the standard net rate for a single person living alone is about $1,110 per fortnight after tax under the M code, while a qualifying couple gets about $1,708 combined after tax (Sorted – NZ super rates).

• Single sharing: net ~$1,025 per fortnight (Sorted – NZ super rates)
• Couple both qualify: combined net ~$1,708 per fortnight (Sorted – NZ super rates)
• Couple one qualifies: combined net ~$1,624 per fortnight (Sorted – NZ super rates)

Why this matters: couples benefit from shared overheads, making the per-person shortfall easier to manage compared to single households.

What is the new superannuation rate in NZ in 2024?

How much did rates increase compared to 2023?

The 2024 adjustment delivered a roughly 4.7% increase over the 2023 rates (Work and Income – NZ Super rates). The annual adjustment on 1 April is tied to the movement in average wages, meaning NZ Super rises in line with what working New Zealanders earn, not necessarily the cost of living for retirees.

What caused the increase?

New Zealand Superannuation is indexed to the Consumer Price Index (CPI) but is adjusted annually based on the movement of average ordinary-time weekly earnings. The 4.7% jump in 2024 reflected stronger wage growth in the economy (MoneyHub NZ – Super rates projections).

The trade-off: future increases are entirely dependent on wage growth patterns, which can fluctuate with economic cycles.

Is NZ Super going up in 2026?

What are the projected 2025 and 2026 rates?

Future rates are not yet official, but Treasury forecasts and independent analysts provide estimates. MoneyHub NZ projects an approximate 3.6% increase in 2025 and a 3.2% increase in 2026, based on current wage growth trends (MoneyHub NZ – Super rates projections).

Three years of projected increases, one key assumption: wage growth continues at forecast pace.

Are these projections official or estimates?

These are estimates, not official rates. Work and Income will confirm the exact figures in February or March of each year, once the wage data is finalised. The government has not signalled any change to the indexation formula, but future legislation could alter the calculation method (MoneyHub NZ – Super rates projections).

The catch: relying on projections means accepting real uncertainty about your 2026 income floor.

What happens to NZ Super when you move overseas?

Can you keep receiving NZ Super overseas?

New Zealand Superannuation has specific rules for overseas residents. If you were ordinarily resident in New Zealand before leaving, you can generally continue receiving payments for up to 26 weeks (Become.nz – NZ Super: rules for moving overseas). If you move permanently, payments will typically stop after that period, unless you are moving to a country with a reciprocal agreement.

Are there time limits for absences?

Yes. The key threshold is 26 weeks. If you are overseas for longer than 26 weeks and do not return to New Zealand, your Super payments will be suspended. Reciprocal agreements with Australia, the United Kingdom, Ireland, Canada, and a few other countries allow continued payments in some circumstances, but the rules vary by jurisdiction (Become.nz – NZ Super: rules for moving overseas).

The implication: moving overseas as a superannuitant requires careful planning, especially regarding the 26-week rule and reciprocal agreements.

How much money can I have in super and still get the pension?

Does NZ Super have an income or asset test?

New Zealand Superannuation is unique among comparable countries because it has no income or asset test for residents. Unlike the Age Pension in Australia or state pensions in many European countries, your NZ Super payment is not reduced by savings, investment income, or other earnings (Work and Income – NZ Super eligibility).

What counts as income for the test?

For the standard NZ Super payment, no income test applies. This means you can have rental income, dividends, KiwiSaver withdrawals, or a part-time job without affecting your fortnightly payment. The only exception is if you are an overseas resident, in which case a different set of rules applies (Work and Income – NZ Super eligibility).

Why this matters: this makes NZ Super fundamentally different from many overseas pensions and gives New Zealand retirees more flexibility to supplement their income without penalty.

Timeline

A four-year look at rate changes, one clear pattern: wage indexation.

“The annual adjustment ensures NZ Super keeps pace with the cost of living for seniors.”

— Work and Income official communication (Work and Income – NZ Super rates)

“Future rates are based on Treasury forecasts, not a fixed promise.”

— MoneyHub NZ analysis (MoneyHub NZ – Super rates projections)

“NZ Super is not means-tested, so your savings and part-time work do not reduce your entitlement.”

— Sorted.org.nz guide (Sorted – NZ super rates)

“The standard net M-code weekly rates are $555.15 for a single living alone and $427.04 for a qualifying couple.”

— Lifetime Income resource (Lifetime Income – NZ Super rates explained)

For most New Zealanders, Super is the bedrock of retirement income. The single person’s net rate of $1,110.30 per fortnight requires careful budgeting, especially for renters in higher-cost centres. Couples have more flexibility with combined household costs, but both groups face the same structural reality: the annual increase is tied to wage growth, not personal cost pressures. Planning for retirement means understanding what is guaranteed — the exact 2024 rates — and what is projected for the coming years.

Related reading: NZ Superannuation rates 2024–2025 and current fortnightly amounts · NZ Superannuation rates 2024–2025 and current fortnightly amounts

For those planning beyond 2024, the NZ Superannuation 2025 rates provides updated figures for the following year.

Frequently asked questions