Guy welcomes pension and benefit increase
Otaki MP Nathan Guy has welcomed confirmation that New Zealand Super and benefits will rise on 1 April to meet the cost of living.
“The Government has announced that the married rate for New Zealand Super will increase on 1 April by 6.85%, which is just over $22 a week.
“This ensures that married rate continues to equal 66% of the average net wage.
“Main benefits will increase by 3.75% on 1 April 2011, which includes the GST compensation component of 2.02% added in 1 October 2010.
“There has been some confusion and misinformation over this issue recently which is disappointing. The Government has always made it clear that people will be compensated for the rise in GST and the cost of living, and this is exactly what has happened.
“The compensation given to superannuitants when the GST rise came in on 1 October last year was both immediate and permanent. It is now built into further adjustments as they occur.
“The total married rate for New Zealand Super, after tax, has increased from $879.60 to $1045.92 over the last three years. That's a major increase of $166.32.
“I’m proud to be part of a Government that has supported pensioners through difficult economic times. This makes a positive difference for Kapiti and Horowhenua superannuitants because we have the highest proportion of residents aged over 65 years in New Zealand.
“You can check a full list of the new rates and thresholds at www.msd.govt.nz or contact my offices in Levin (06 367 9110) or Paraparaumu (04 298 2906).”