For a single person receiving New Zealand Superannuation, the specified exemption was $4160 annually and the surcharge was calculated as 25% of the amount by which other income exceeded this threshold. If Peters had not destroyed the superannuation accord by scrapping the surcharge, the Crown’s finances would be manageable. Now we must adopt one or all of the following: a savings-based Super, raising the pension age and restoring the surcharge.
Author: NZ Herald
Published at: 2025-09-30 23:00:00
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