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Boost for older residents

MORE than half a million older New Zealanders will get up to an extra $13 a week as a result of increases to Superannuation and Veterans Pensions introduced on April 1, says Social Development Minister, David Benson-Pope.
The Superannuation and Veterans' rates increased by five per cent, as a result of the annual Consumers Price Index (CPI) adjustment and the government's post-election promise to ensure that older New Zealanders benefit from increasing wage levels.
"Older New Zealanders deserve to share in the economic success New Zealand is experiencing," David Benson-Pope said. "The Labour-led government is committed to ensuring Superannuation and Veteran Pension rates are not less than 66 per cent of the net average weekly wage as at April 1, 2007, in line with our agreement with New Zealand First."
Single superannuitants living alone now receive an extra $13.16 per week and couples an extra $20.24 per week.
Benefits and student allowances have also increased and income thresholds for the Community Services Card will rose.
The increase of 2.63 per cent in the rates of benefits, allowances and Community Services Card thresholds equates to the increase in the cost of living for 2006, as measured by the Consumers Price Index.
Examples of the increases in the after tax weekly rates are:

For a single person over 18 receiving the Invalids Benefit, up $5.72 to $223.10
For a sole parent with one child, receiving the Domestic Purposes Benefit, up $6.55 to $255.65
For a single student aged over 25 years studying away from home receiving a Student Allowance, up $3.81 to $148.73

A range of other policies for families also came into force last month, including a $10 per child, per week boost to Working for Families tax credits, the delivery of a minimum four weeks annual leave entitlement, and a 9.8 per cent increase in the minimum wage.
"Taken together, these initiatives and adjustments amount to a massive delivery on this government's commitment to families and to improving the living standards of all New Zealanders," David Benson-Pope said.