Retirement in New Zealand | New Zealand Pensions | New Zealand Superannuation
You may be able to retire to New Zealand provided you fulfill one of these criteria:
• Qualify for the temporary retirement category.
• Qualify for the parent retirement category (permanent residence).
• Qualify for permanent residence in one of the country’s normal immigration categories.
Temporary Retirement Category
This is a two year visitor visa which, importantly, is renewable. This visa is not for everyone, however. The main requirement is money, starting with the NZ$2,800 application fee.
If you do apply, you must fulfill all of the following before you can be approved under the Temporary Retirement Category:
• be aged 66 years or over;
• invest NZ$0.75 million in New Zealand for two years, in an acceptable investment;
• demonstrate ownership of NZ$0.5 million of maintenance funds and an annual income of NZ$60,000 at the time you apply;
• meet standard health and character requirements; and
• hold and maintain comprehensive travel and/or health insurance for the duration of your stay
Successful applicants will be issued with a two year multiple entry visitor’s visa/permit which allows them to stay for two years, and travel in and out of New Zealand during that time.
You can re-apply for another visitor’s permit/visa under this category if you:
• continue to meet all the requirements above; and
• can demonstrate that you have maintained your travel and/or health insurance and your investment funds in an acceptable investment during the two year duration of your stay.
You may include your partner in your application. Dependent children cannot be included.
Parent Retirement Category
This is a permanent residence visa. This visa is for parents of New Zealand citizens or residents who want to join their children in New Zealand. This visa operates on an expression of interest (EOI) basis. EOI’s go into a pool and there is a pool draw every three months. There is an annual allocation of approximately 4,000 places for this visa. Applicants must not have any dependent children.
Priority will be given to applicants (Tier One) who:
Have a guaranteed lifetime minimum income of NZ$27,203 per annum for a single person or NZ$39,890 per annum for a couple, or
Bring at least NZ$500,000 in settlement funds to New Zealand, or
Have a sponsoring adult child who has an annual income of at least NZ$65,000, or NZ$90,000 when combined with their partner’s income.
Tier One applicants are not be subject to a “centre of gravity” test whereby the number of adult children in New Zealand need to be at least as many as the adult children in the home country.
The time taken to process this visa is estimated at 18 months.
Tier Two applicants must
Have a sponsoring adult child who has an income of at least NZ$33,675 per annum, and
Any other children the applicant has must live outside the country in which the applicant lives.
The time taken to process this visa is estimated at up to 7 years.
Investment Details
An acceptable investment for the Parent Retirement Category is defined as investment that:
1. is in one or more of the following:
• bonds issued by the New Zealand government or local authorities, or
• bonds issued by New Zealand firms traded on the New Zealand Debt Securities Market (NZDX), or
• bonds issued by New Zealand firms with at least a BBB- or equivalent rating from internationally recognised credit rating agencies (for example, Standard and Poor’s), or
• equity in New Zealand firms (public or private), including managed funds, or
• bonds issued by New Zealand registered banks, or
• equities in New Zealand registered banks, or
• residential property development(s), or
• bonds in finance companies.
and:
2. is capable of a commercial return under normal circumstances and has the potential to contribute to New Zealand’s economy, and
3. is invested in New Zealand in New Zealand currency, and
4. has the potential to contribute to New Zealand’s economy, and
5. is invested in lawful enterprises or managed funds that comply with all relevant laws in force in New Zealand, and
6. is not for the personal use of the applicant(s).
Permanent Residence
A significant number of people have obtained permanent residence as skilled workers while in their 50s with a view to working for a short time and then retiring in New Zealand.
Some have even come and never worked, retiring immediately using savings or an overseas pension to fund their new lives in New Zealand.
Superannuation Criteria
If you do obtain permanent residence in New Zealand, the following applies:
• In order to qualify for New Zealand superannuation (a pension paid by the government) you must have lived in New Zealand for at least 10 years since you turned 20. Five of these years must be since you turned 50.
• Time spent overseas in certain countries may be counted for New Zealand Superannuation.
• New Zealand has social security agreements with Australia, Canada, Denmark, Greece, Ireland, Jersey/Guernsey, The Netherlands and The United Kingdom.
• People from the UK, for example, can use time spent in the UK / UK National Insurance payments to make themselves eligible for New Zealand Superannuation.
• If you are from one of the countries listed, you can download a NZ government guide to your eligibility for New Zealand superannuation.
• Superannuation is currently worth $20,803 gross per annum if you’re single or $15,724.80 gross for each person in a married/civil union/de facto couple.
• Superannuation is part of your taxable income and the amount you are paid will be reduced by the impact of income tax paid at your normal rate.
• New Zealand Superannuation is maintained between 65% and 72.5% of average full-time net earnings.
• By law, you can work to any age you want to in New Zealand.
• If you qualify for New Zealand Superannuation and work beyond the age of 65, you will receive both your pay and your NZ Superannuation payments.
• Any pension you get from an overseas government will probably be deducted from your NZ superannuation.
• Any pension you get from a former employer overseas will probably be paid in addition to your full NZ Superannuation.
Retiring to New Zealand
There are thirty questions and answers about retiring in New Zealand on this page: Retiring to New Zealand .
Hi , Both wife and i were born in NZ ,moved to Australia in 1968 Have now both retired in Aust and on pension paid from Aust centralink and part from nz. What is the situation if we were to move back to nz re pension .Also hold Australian citizianship.
Hi There,
Both my wife and myself were born in nz , moved to Australia in 1986,have now retired and on pension paid from Australia centrelink and part from nz.
What is the situation if we were to move back to nz ,re pension payments.also have Australia citizanship.
aged 66 years my wife 69 years.
Thanking you await your comments.
Hi Ross,
Since you are already receiving NZ Super, Work and Income say
‘If you intend to return to New Zealand to live, please contact Senior Services – International as soon as possible to find out how your payments will change.’ From Australia their phone no is 1800 150 479
There is a social security agreement between Australia and New Zealand. Under this agreement the total amount of NZ Super and Age Pension you receive will generally be similar to the amount of pension you would have received if you had spent all your life in New Zealand.
There is more info about the social security agreement here .
Hello, I am wondering if I qualify for a NZ old age pension at age 65. My situation will be the following: Receiving a Australian Defence Force Death and Retirements Benefit of approximately $Aust 20000 per annum, recieving rental income of $Aust 10000 per annum in Australia. Recieving a Department of Veteran Affairs disability pension of $Aust 5500 pa. Will I be able to recieve the pension at age 65 if I was to immigrate to NZ on turning 65? Will the monies received in Australia affect or cut into the NZ old age pension. I have lived in Australia since birth in 1955? My intention is the purchase a home in which to live in NZ, but will travel overseas extensively each year when its winter in NZ. Is there a qualifying period I must complete as a resident of NZ beforehand? Thanks
Hi Craig,
Australians moving to New Zealand will generally qualify for a NZ Super pension as there is a social security agreement between the two countries. Time spent in Australia and the UK will ‘count’ towards the number of NZ resident years required to qualify for NZ Super.
To qualify for NZ Super you must have been resident and present in New Zealand for more than 10 years since the age of 20 with five years since the age of 50 (you can use time spent living in Australia or UK to count towards this)
NZ Super is not asset or means tested but social security pensions from other countries may affect the payments.
Work and Income have a Senior Services International team that you can contact by phone from Australia on 1800 150 479 to advise you further.
Hi,
I and wife are both 60. We’re semi-retired Australian citizens, with a reasonable private superannuation. We’re considering retiring to NZ in a year or two. We most likely won’t need a government pensions. What’re our options?
what is the longest period of time an american can stay in new zealand? would it be possible tonstay 6 months at a time. we have the finances and would rent. we have a home in canada and the us and do enjoy new zealand. how long and how often would we be allowed to stay. thank you s lee curtis
We have a son living in New Zealand and has permanent residency and a daughter living in Australia and no other dependants in the UK. We are due to retire in 8 years and would like to move to NZ to live with our son and family. When is the best time for us to apply for a parental retirement category visa? Looking at the information given we think we would be eligible for both tiers
Hi,
Under the revised parent category visa, there have been two pool selections and only tier one applicants have been selected in both cases. Details of the selections are on this page (in the comments): http://www.enz.org/family.html
I suggest you keep an eye on the selections made every few months and use that to help you decide the best option for you.
Hi
I am here in New Zealand working in a full time sponsorship, my father is 63 and wants to move to NZ to be with me, he is fit and active and happy to work. Is their anyway i can make this happen?
Hi Tom,
Depending on your and your father’s circumstances, it certainly is possible but without more details it’s not possible to say any more.
A number of our forum members have been successful in obtaining parent visas and it’s a great place to talk about your options with people who have negotiated the process successfully.
http://www.enz.org/forum/
Hi
Iam a New Zealand citizen of 68 in receipt of a UK State Pension but I intend to retire to New Zealand . I have more than the 10 years residency in New Zealand to qualify for New Zealand Superannuation but have resided and worked in Abu Dhabi since the age of 50. Is it possible to exchange the UK State Pension for New Zealand Superannuation on returning to New Zealand.? The other option is to have the UK State Pension paid in New Zealand for 5 years until I have qualified for New Zealand Superannuation.
Hi Philip,
Work and Income says that:
Hi
My family moved to Australia in 1972 when I was 17.
My parents have been back to NZ many times & even for work stints (self employed), owned property ect.
Now at age 57 & having worked here in Australia all my working life except for a stint working in Queenstown NZ-
Mum (aged 83) & I wish to move ‘back home’ to NZ. I will be working when I get back there.
Is my Mum entitled to the NZ pension? she is currently a recipient of a Veteran Affairs Pension (white card) Dad was in the NZ army.
Am I entitled to the Old Age pension when I reach the required age?
Mum & I both have dual citizenship.
We look forward to your reply.
Thank you.
Sally M
Hi Sally,
There is a social security agreement between Australia and New Zealand which says:
‘If you live in New Zealand or intend to, you may qualify for a benefit or pension from both New Zealand and Australia.
Once your applications are processed, you may be paid benefits or pensions made up of payments from both New Zealand and Australia eg what you are paid may be made up of an Australian Age Pension and a New Zealand Superannuation payment.
When this happens the total amount you receive will generally be similar to the amount you would have received if you had spent all your life in New Zealand.’
You can contact Work and Income Senior Services International on 1800 150 479 who are able to advise you in detail on your entitlements if you were to return to New Zealand.
Hello,
I worked full-time as a teacher in NZ in 1974 and am trying to determine whether I have any pension or superannuation entitlements from that time. I know that any such entitlements will be small, but small amounts add up!
Thank you,
Brian Burrows
Hello,
I am looking into weather or not my wife and I will receive the NZ pension. I am a 44 year old NZ citizen currently living in the USA. I left NZ when I was 30 and am married to a 46 year old USA citizen. We are planning to eventually move to NZ and weather we do or do not qualify for the NZ pension will have an affect on when (or if at all) we move to NZ.
Many thanks for your time.
Jason Ulyatt
Hi Jason,
There is currently no social security arrangement with the USA and New Zealand so you’ll need to meet the standard rules for getting a New Zealand benefit or pension. These are:
You may be able to get New Zealand Superannuation if you:
• are aged 65 or over
• are a New Zealand citizen or permanent resident
• normally live in New Zealand at the time you apply.
You must also have lived in New Zealand for at least 10 years since you turned 20. Five of those years must be since you turned 50.
For more detailed information you can contact senior services international on + 64 4 978 1180 or email international.services@msd.govt.nz
I am an Australian citizen and will retire shortly. I will be eligible for the full Australian Old Age Pension. I already own land (section) in New Zealand and hope to build and retire there. What are the criterion for Australian citizens wishing to retire to New Zealand? Can I bring my full Australian pension with me once I start receiving here while in Australia? Are character references required?
Hi Peter,
There is a social security agreement between Australia and New Zealand. Usually the total amount of pension you will receive will be similar to the amount you would have received if you had spent all your life in New Zealand.
Once your applications are processed, you may be paid benefits or pensions made up of payments from both New Zealand and Australia.
Centrelink in Australia decides who can receive an Australian benefit or pension in New Zealand and how much can be paid.
Here is more information about the social security agreement .
To enter New Zealand you will need to be of ‘good character’. No references are required but you will need to sign a declaration that you are of good character on your arrival card when you enter New Zealand.
I am a British citizen and have worked just over 2 years in New Zealand. My UK pension manager has reccomended me to inquire what New Zealand pension entilement do I have. I still have a savings bank account with New Zealand Bank. Worked from July 2002 – September 2004 as a RN, New Zealand
Hi Francis,
New Zealand benefits and pensions are not paid into the United Kingdom. However the time spent in New Zealand may count towards your required years for the UK State pension.
My son and his wife are moving to New Zealand next year and have ask to come and retire out there But I have my 88year old mother living with me would I be able to bring her with us
I am a UK national looking to retire to NZ in approx. 7 years time. I am fairly certain I could qualify for a parental visa sponsored by my son who has lived in NZ for 5 years.
I have consequently submitted an EOI form under tier 1. Should I be invited to sumit a visa request is their any time limits regarding when I must use this visa and reside permentantly in NZ ? I have applied early as I wish to buy a property in NZ prior to retirement.
Hi Jim,
You could ask in the forum at http://www.enz.org/forum as several of our members have gone through the parent visa process recently and they will probably have the most up to date information.
Alternatively you could contact NZ immigration directly.
There are no restrictions on non-residents purchasing a standard residential property in New Zealand. The only exception is if the property is classified as being “sensitive land” and this may be the case for some farms, lifestyle properties or waterfront homes.
I immigrated to NZ in 1969 on a permanant visa. I was 15 at the time. i left in 1970. Is my visa still valid or not?