Schedule 3: Income and Asset Thresholds

Part 1. Income

(a)

For single persons who have no spouse or partner and no dependent children-

(i)

1.5 x the net [see Note 1 below] weekly living alone rate of New Zealand Superannuation set out in Schedule 1, clause 1(a) of the New Zealand Superannuation and Retirement Income Act 2001.

(b)

For any other persons-

(i)

1.5 x the net [see Note 1 below] weekly married rate of New Zealand Superannuation set out in Schedule 1, clause 1(c) of the New Zealand Superannuation and Retirement Income Act 2001.

Part 2. Assets

A person must have cash assets under 10% of the national median house price as determined and updated by the Agency, from time to time, with reference to the Real Estate Institute of New Zealand (REINZ).