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New Zealand has a universal superannuation scheme. Everyone aged 65 years old or over, who is a New Zealand citizen or permanent resident and normally lives in New Zealand at the time they apply is eligible.

They must also have lived in New Zealand for at least 10 years since they turned 20 with five of those years being since they turned 50. Time spent overseas in certain countries and for certain reasons may be counted for New Zealand Superannuation.

New Zealand Superannuation is taxed, the rate of which depends on their other income. The amount of Superannuation paid depends on the person's household situation. For a married couple the net tax amount is set by legislation to be no less than 66% of net average wage.

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