Benefit rates rise to meet increased living costs
Hon Paula Bennett
Minister
for Social Development
Minister of
Youth Affairs
16 March
2012 Media Statement
Benefit rates rise to meet increased
living costs
Social Development Minister Paula
Bennett announced the annual increase in benefit payments
and superannuation for more than a million Kiwis.
“We
passed legislation so annual increases are linked to
increases in the consumer price index and keep up with
rising living costs,” says Ms Bennett.
The increase
will take effect from April 1 this year.
The 2012 Annual General Adjustment will see a 1.77 percent increase to:
• Benefit rates, Student Allowances,
Student Loan Living Costs and the Foster Care
Allowance
• rates and thresholds for
supplementary assistance
• thresholds for the
Community Services Card.
A 2.65 percent increase will apply to rates of New Zealand Superannuation.
“These increases will help make sure Superannuitants and others who rely on state assistance, can meet their daily living costs,” said Ms Bennett.
“The percentage increase will be slightly higher for people receiving NZ Superannuation or a Veteran’s Pension, so that the married couple rate continues to equal 66 percent of the average net wage.”
For example, this means
that married NZ Superannuitants will see an increase of
$13.84 per week when compared to payments on 1 April
2011.