Weekly Compensation is calculated as a weekly financial support and paid:
- every two weeks within NZ, or
- every four weeks outside of NZ.
All payment rates are before tax.
Payment rates are in New Zealand Dollars.
About Weekly Compensation
Weekly payment rate
Your payments are based on:
- a percentage of your weekly earnings before you had to stop working
- a minimum of $1,178.86 per week before tax.
If you are getting Weekly Compensation for Families, then it is based on the weekly earnings of your family member who had Qualifying Service.
|First year of incapacity
||Up to 100% of your previous weekly earnings
||Up to 85% of your previous weekly earnings
If you are a contributor to KiwiSaver we encourage you to take appropriate advice from your KiwiSaver provider or Inland Revenue on how to handle contributions while receiving Weekly Income Compensation or Weekly Compensation. You can arrange your own contributions or take a KiwiSaver holiday.
How we calculate weekly earnings
Your exact payment rate will be based on your income details.
If you were employed or getting PAYE income
We will ask your employer for your income details. We will base this on the 12 months before you became unable to work.
If you were self-employed or a shareholder
You will need to ask IRD for your income details and then share this with us. Your financial support will be based on the last full tax-year before you became unable to work.
If you live outside New Zealand
Your payments may be taxed depending on your location. This will depend on the country you live in.
Payment you receive from us may also be treated as income. This could affect you if you’re receiving support from another country that is income tested.
We recommend you discuss your situation with the local authorities.