Pay rise for pensioners

Pensioners are about to get a pay rise. Photo / iStock
Pensioners are about to get a pay rise. Photo / iStock

Pension rates will increase by about $10 a week from April, Social Development Minister Anne Tolley has announced.

Ms Tolley said the Government had committed to keeping the Superannuation and Veteran's Pension rates at 66 per cent of average incomes. This meant a 2.73 per cent rise this year.

"This means an increase of $15.74 a week for a married couple, $10.23 a week for a single person living alone and $9.44 for a single person sharing accommodation."

In 2011 the Government changed the law to peg main benefits to the cost of living, using the Consumers Price Index (CPI) excluding the rise in tobacco excise tax.

"Last year, the rate of inflation was -0.25 per cent, meaning the cost of living has slightly decreased. However, benefit rates will be maintained on April 1 this year," Mrs Tolley said.

"Rates for main beneficiaries and student allowance recipients with dependent children will increase by $25 a week after tax, as part of the Child Hardship Package announced in Budget 2015."

- NZ Herald

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