Discover all on Living Wage NZ 2024: Who is Eligible for Living Wage? Payment Amount and Dates. The rental prices have skyrocketed in the past few years. Today we will be discussing the Living Wage NZ. A complete guide has been shared by us in this article continue scrolling to gain ample information.
Living Wage NZ 2024
A Living Wage is an additional payment provided to citizens with their families to cope with the current cost of living. Whereas the minimum wage is funded based on several hours an individual works. It is an hourly payment set apart from the minimum wage. Considering the enormous cost of living paying rent has become a complex task for most citizens. Factors such as housing costs, transportation, meals, and entertainment cannot be neglected while evaluating the salary.
The accommodation and dining out prices in Auckland are insane since millions of students travel for study purposes with a dream to live a better livelihood. To live a comfortable life citizens have to keep an eye on regular spending. The cost of living is so high in some provinces living it becomes quite expensive to live on an average salary. Public transport cannot be widely spread throughout the country hence necessity of personal cars leads to expenditure.
| Important Links |
Cost Of Living In New Zealand
For Kiwis, it is generally difficult to pay the rent, buy new properties, often go out for dining, and so on. Wholly relying on the minimum wage is impossible for them. Fortunately, they have a living wage payment that makes it more convenient to wrestle with such challenges.
The average cost of couples with two children living in NZ varies from $6000 to $7000. While in contrast for singles, the cost of living ranges from $4000 to $5000 in a month. This data may change from one person to another. Some may require essentials while some desire to live luxurious lives.
Who is Eligible for a Living Wage?
Being employed does not mean that you are financially secure. The lower group of citizens need additional payment amounts to survive in a world full of crises and high living costs. The Living Wage is the voluntary benchmark and not legally required. The age criteria do not play a crucial role. The employees have the right to request for the Living Wage payment if they are earning a lower than the average salary.
A person working at least 40 hours a week can claim the living wage amount. employers ensure that their employees have sufficient funds besides the salary to live a life hassle-free. Ordinary expenses such as accommodation space, meals, transportation, and saving for unpredictable situations. It is also better for the employers as it makes an employee more industrious person and also best for the economy.
Living Wage NZ Payment Amount 2024
The Living Wage rates for 2023 were $23 per hour. This amount is for those who are earning $1247 as weekly payments aged between 25 to 29 years. In April 2024 the minimum wage rates for adults will be inflated to $26 per hour. The Government is trying hard to balance the cost of living for all low-paid workers by funding them with the maximum amount of living wage in addition to the minimum wage.
$26 is a fair amount if we consider the minimum hourly wage rate. The new amount will benefit more than 80K worker by providing a handsome amount in their pockets. The minimum wage is not sufficient to cover all household expenditures, food costs, clothing requirements, and other basic needs. All the janitors, catering workers, and security guards can be a part of a living wage.
| Important Links |
Living Wage NZ Dates 2024
The New Living Wage rate will be implemented from 28 February 2024. The worker aged between 15 to 19 years with a median income payment of $390 used to get $24.14 as a part of the hourly living payment in prior years. There is a unique payment of Living Wage for all age groups.
The amount also depends on various proveniences some may pay higher than the usual amount. So, we cannot predict a standard amount for a specific age group. Every time a major update happens we for sure will provide information on it. Till then continue browsing our home page to find related information on the topic.