Pensioners will get an extra $680 a year from April thanks to tax cuts

Maggie Barry released:

’s strong economic plan will deliver an extra $680 a year per couple in New Zealand payments from 1 April next year, Seniors spokesperson Maggie Barry says.

NZ Superannuation is linked to the average after tax wage. Labour is going to reverse the tax cuts passed by Parliament. If they remain though, then that will push the married super payment level up by $680 a year.

New Zealand Superannuation for a couple has increased by more than $7000 a year under National – from $24,062 in 2008 to $31,216 in 2017. That is an increase of 29.7 per cent, more than twice the rate of inflation.

And this is again linked to the average after tax income, so that indicates that there has been considerable increase in real incomes.

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