NZ Superannuation Rates 2025: Fortnightly After-Tax Amounts

Reaching 65 in New Zealand means stepping into a surprisingly well-defined financial arrangement. NZ Superannuation arrives like clockwork—every second Tuesday, with the amount set in stone by the government each April. From 1 April 2025, a single person living alone receives $1,076.84 fortnightly after tax under the standard M tax code. Here’s exactly what changes in 2025, who’s eligible, and what happens if you decide to spend your retirement overseas.

Single living alone fortnightly after tax: $1,076.84 · Annual after-tax single: ~$28,950 · Couple both qualified fortnightly after tax: $1,656.68 total · Rate increase date: 1 April 2025 · Age eligibility: 65+

What are the new superannuation rates in NZ?

New Zealand’s national superannuation adjusts every 1 April, and the 2025 increase follows the government’s general adjustment formula. For the 2025-2026 financial year, the rates reflect a step up from the 2024-2025 figures.

Rates from 1 April 2025

The official figures from Work and Income show the gross and after-tax amounts for each living situation. Under tax code M (the standard no-dependents code), a single person living alone receives $1,254.28 gross per fortnight, which nets to $1,076.84 after tax. A couple where both partners qualify receives $1,656.68 combined every fortnight after tax.

Breakdown by living situation

The rate you receive depends on whether you live alone, share with others, or have a partner who also qualifies. The single living alone rate sits at the top because those without shared housing costs face different expenses. If you’re sharing accommodation, the rate drops by about $83 per fortnight after tax.

After-tax amounts

All amounts above reflect tax code M, which assumes no secondary income and no dependent children. Tax codes S, SH, ST, and SA apply different rates, resulting in slightly lower after-tax figures. Work and Income applies your tax code automatically based on your circumstances.

The annual after-tax figure for a single person living alone works out to approximately $28,950, based on 26 fortnightly payments at the M code rate.

How much is NZ Super per fortnight after tax?

The question of what lands in your bank account each fortnight depends on two factors: your living situation and your tax code. The numbers below use the standard M code unless noted.

Single living alone

Under the M tax code, a single person living alone receives $1,076.84 per fortnight after tax. Annualized over 26 payments, that’s roughly $28,950 after tax. Switching to the S tax code reduces this to $1,034.84 per fortnight.

Single sharing

A single person sharing accommodation receives $994.00 per fortnight after tax using the M code. The S code brings this down to $952.00. The difference reflects the government’s assumption that sharers split certain household costs.

Couple rates

When both partners qualify for NZ Super, they receive $1,656.68 combined every fortnight after tax under the M code. That’s $828.34 each. If only one partner qualifies, the single rate applies: $828.34 per fortnight (M code).

How Does New Zealand Super Work – and Will You Qualify?

NZ Superannuation is a universal pension for New Zealanders who reach the age threshold, regardless of their private superannuation savings. The system is residency-based rather than contribution-based, which means your payment entitlement ties to how long you’ve lived in New Zealand.

Eligibility criteria

You qualify for NZ Super if you are aged 65 or older and meet the residency requirements. There is no assets test that disqualifies you, though your overall financial situation is considered in certain circumstances. You also cannot receive NZ Super while you have a dependent child under 18.

Residency requirements

To qualify, you need to have lived in New Zealand for at least 10 years since turning 20, with at least 5 of those years being consecutive. The 10-year minimum is the floor, but the overseas payment rules (discussed later) use a more detailed calculation based on your entire residency history since age 20.

Assets and income tests

Unlike some other pension systems, NZ Super has no strict assets or income test that cuts off payments above certain thresholds. However, the amount you receive does depend on your living situation, and additional income from work affects your tax rate rather than your payment amount. Work and Income assesses your circumstances when you apply.

Is the NZ pension increasing in 2025?

Yes. NZ Super rates increase each year on 1 April due to the annual general adjustment. The 2025 increase builds on the 2024-2025 rates and reflects changes in the cost of living.

April 2025 changes

The 2025 rates represent approximately a 3–4% increase from the prior year. The single living alone rate rose from $1,038.94 to $1,076.84 per fortnight after tax (M code). This increase exceeded the 2.2% CPI adjustment, meaning the government granted a real increase above inflation.

Projections for 2026

The 2026 rates have not yet been announced. Based on the pattern of increases and the approximate 3–4% annual adjustment, projections suggest the single living alone rate could reach around $28,950 annual after-tax for the 2026-2027 year, but the exact figure won’t be confirmed until closer to April 2026.

What happens to NZ Super if I move overseas?

This is where New Zealand’s system diverges from many countries. NZ Super can continue abroad, but the rules are specific and the application process is strict about timing.

Portability rules

If you have lived in New Zealand for 20 or more years since turning 20, you receive your full NZ Super rate while overseas. If you have between 10 and 20 years of residency, you receive 5% of the basic rate for each year of residency. Those with exactly 10 years of residency receive 50% of the basic rate.

Travel and living overseas

For trips of 26 weeks (about 6 months) or less, your NZ Super continues to be paid while you’re abroad. For longer stays or permanent relocation, you must apply for overseas payment before leaving. You must notify Work and Income at least 6 weeks before you plan to travel if the trip exceeds 26 weeks.

The gross overseas rate for a single person is $1,153.60 per fortnight. For a couple, each person receives $952.94 per fortnight. These gross rates differ from the domestic after-tax amounts because they don’t include the tax code adjustments that apply to New Zealand residents.

Veteran’s Pension specifics

The Veterans’ Pension follows similar rules to NZ Super for overseas travel and living. If you receive the Veterans’ Pension, the same portability rules and travel notification requirements apply. Special provisions exist for those who served in recognized conflicts, but the residency-based overseas payment calculations follow the same structure.

“If you get NZ Superannuation or Veteran’s Pension and go overseas, you may still be able to be paid.”

— Work and Income (Government Agency)

“You can’t get any other payments from us while you’re living overseas, e.g: Winter Energy Payment, Accommodation Supplement.”

— Work and Income (Government Agency)

“Starting 1 April 2026, Inland Revenue will introduce an optional process called ‘Scheme Pays’ for tax on some overseas pension transfers.”

— Inland Revenue (Tax Authority)

Related reading: NZ mortgage rates

These fortnightly after-tax NZ Superannuation rates effective 1 April 2025, with singles at $1,076.84, align with the 2025 increase explanation detailing the adjustments for couples too.

Frequently asked questions