Superannuation tagged posts
February 25, 2016 New Zealand Taxation
Superannuation and veteran pension payments are set to rise in order to stay in line with wages in New Zealand.
On February 25th the Minister of Social Development Anne Tolley announced that superannuation and veteran pension rates will be increased from April 1st.
The government aims to maintain the level of superannuation and veteran pensions at 66 percent of the average national income, and in order to maintain this level the payments will be increased by 2.73 percent.
According to Anne Tolley, the increase in payments will translate to “… 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.”
Photo By: Simon CunninghamRead More
October 7, 2014 New Zealand Finance
New Zealand has ranked among the best countries in the world for people over the age of 65, especially in regards to healthcare and economic capability.
Earlier this week the independent think-tank Help Age International released the results of new research measuring the “well-being of older people” in different countries across the world, ranking New Zealand as the 10th best country based on “how well their older populations are faring”.
New Zealand ranked only 30th in the world for its “enabling environment”, as the perception of safety in the country among older people is only at 58 percent, while satisfaction with the public transport system was only 48 percent.
In regards to income security the country only reached the 27th position on the index, and it was noted that while ...Read More
February 20, 2014 New Zealand Taxation
The IRD has eased the rules on superannuation transfers, allowing more Kiwis to take advantage of limited tax concession.
In a statement issued on February 18th the Inland Revenue Department said that a new proposal has been put forward to amend the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Bill to make it easier for New Zealanders to bring back their superannuation savings from another country.
Under the rules of the current Bill, individuals transferring funds from an overseas superannuation scheme to a local superannuation scheme are liable to pay taxes based on the returns granted by the overseas provider.
The bill also granted a concession to individuals who made completed a withdrawal from an overseas scheme between January 1 2000 and March 31 2014, all...Read More
August 8, 2012 New Zealand Finance
Winston Peters is defending the current superannuation scheme, calling for caution before making any changes to the system.
While delivering a speech on August 7th to Auckland Grey Power, the Leader of New Zealand First Winston Peters addressed the issue of superannuation in New Zealand and the long-term sustainability of the system, saying that it is an important issue and should only be approached with constructive debate.
Winston Peters said that New Zealand is now seeing a concentrated media campaign aimed at undermining the current superannuation system with misinformation concerning its affordability and sustainability.
He said that claims about the unaffordibility of the superannuation system are being orchestrated by parties interested in seeing an rise in the age of entitlement fo...Read More