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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 ...
The 2023 New Zealand mini-budget generated NZ$7.5 billion worth of savings by stopping 15 programmes including 20 hours of free childcare for two-year-olds (worth NZ$1.2 billion), eliminating depreciation for commercial buildings (NZ$2.3 billion) and disestablishing the Climate Emergency Response Fund (NZ$2 billion). [2]
Investing over NZ$1 billion to increase staff wages and numbers for the 2023–2024 financial year, including NZ$63 million to improving staffing levels and recruiting 500 new nurses. [ 4 ] [ 1 ] Investing NZ$864 million in the delivery of disability services.
Notable for being the first ever New Zealand government to have three parties in cabinet. A further five National MPs would sit outside of Cabinet, along with two ACT MPs and one NZ First MP. [280] [281] In a first for New Zealand, the Deputy Prime Minister role will be split for the term, with Winston Peters holding the office until 31 May 2025.
Here’s a snapshot of what’s coming in 2023. New retirement reforms. ... (COLA) for 2023. The increase is the largest since 1981, when the COLA was 11.2%, and raises the average retiree benefit ...
Pension systems by country [1] [2] ... 2023 French pension reform unrest. ... New Zealand: New Zealand Superannuation – public pensions;
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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