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The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
Te Ara Ahunga Ora Retirement Commission (formerly Commission for Financial Capability), is a Crown entity under the New Zealand Crown Entities Act 2004. [1] The Commission provides financial education and information to residents of New Zealand, advises government on retirement income policy, and monitors the effectiveness of the Retirement Villages Act 2003.
On 27 January 2022, New Zealand's inflation rate hit a 30-year record high of 5.9% at the end of 2021. According to figures released by Statistics New Zealand, the rising cost of construction, petrol and rents pushed the consumer price index up 1.4 per cent between October and December 2021.
According to the OECD, as of 2022, the basic pension for a single (unmarried) individual was NZD 27,988.48 per year. [22] The pension rate is adjusted each year by movement in the Consumer Price Index (CPI) as well as the average net-of-tax weekly wage. [22]
Appropriation (2022/23 Confirmation and Validation) Act 2024 2024/14: 27 May 2024 New Zealand Superannuation and Retirement Income (Controlling Interests) Amendment Act 2024 2024/16: 4 June 2024 Immigration (Mass Arrivals) Amendment Act 2024 2024/17: 28 March 2024 Accident Compensation (Interest on Instalment Plans) Amendment Act 2024 2024/24
The government taxes New Zealand Superannuation at a rate which depends on recipients' other income. [20] The amount of superannuation paid depends on the person's household situation. For a married couple the net of tax amount is set by legislation to be no less than 65% of the net average wage, although the Fifth Labour Government increased ...
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Budget 2022, dubbed the Wellbeing Budget 2022, is the New Zealand budget for fiscal year 2022/23, presented to the House of Representatives by Finance Minister, Grant Robertson, on 19 May 2022 as the fifth budget presented by the Sixth Labour Government.