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Special portability : Contents

Overseas pensions

If a client is getting an overseas benefit or pension that is deductible from their New Zealand Superannuation or Veteran's Pension, the overseas pension continues to be a deduction from the maximum gross rate payable.

The rate of payment of Special Portability is then assessed based on this reduced rate.

Example - single client with 15 years New Zealand residence

Gross weekly single sharing accommodation rate of New Zealand Superannuation/Veteran's Pension (as at 1 April 2026)

$595.57

Less weekly rate of overseas pension (NZD$100)

$100.00

Maximum gross New Zealand Superannuation/Veteran's Pension

$495.57

Special Portability payment rate using formula:

Maximum gross New Zealand Superannuation/Veteran's Pension (from above)

$495.57

multiply by 15

$7,433.55

then divide by 20

equals gross rate payable

$371.67

Special Banking option

If a client's overseas pension is being paid into the Special Banking Option account, the account must be closed by International Services, who are responsible for administering the Special Banking Option payment method.

The client must be advised to make arrangements to have the overseas agency pay the overseas pension directly to their own bank account.

For more information see:

Legislation

  • New Zealand superannuation payment section 32(3) New Zealand Superannuation and Retirement Income Act 2001
  • Veteran's pension payment section 192(3) Veterans' Support Act 2014
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The contact details for International Services are:

From New Zealand 0800 777 227 (free calling within New Zealand only)

From Australia 1800 150 479

From other countries +64 4 978 1180

Email international_services@msd.govt.nz

Postal

International Services
Ministry of Social Development
PO Box 27178
Wellington 6141
New Zealand

Fax 04 918 0159

Note when calling from overseas replace the '+' with the international direct dial prefix for the country you are in.

When a client is receiving a pension from Ireland, Australia, the United Kingdom or the Netherlands they can choose to have it paid into a Special Banking Option account.

The overseas social security authority pays the pension into this account instead of into the clients own bank account.

The client will then receive the full rate of their New Zealand benefit. The account is only able to be accessed by Work and ...