Create your ideal retirement in New Zealand

If you’re a British expat planning to spend your retirement years in New Zealand, you may already have a long list of things you’d like to do.

Maybe there are places you’d like to see, or family you’d like to spend time with. New Zealand offers an array of opportunities to really make the most of your retirement.

Here are a few pointers to keep in mind.

Make time for the things you love to do

Sometimes, retirees say that even though they are no longer working, the days still slip past in a blur of busy-ness. You can help make time for the things you love by having some clear plans and goals. Maybe this year you’ll do a great walk, or visit some of the country’s picturesque beaches. You could aim to travel to Cape Reinga, or down to Bluff. If indoorsy pursuits are more your scene, you could plan a tour of art galleries – there’s the Hundertwasser Art Centre in Whangarei and the Len Lye Centre in New Plymouth, as well as the better known Auckland and Wellington offerings. Whatever you’re into, there’s sure to be a chance to indulge your passions.

Get stuck in with the locals

As a relatively new resident of New Zealand, you’ll have the opportunity to explore local culture and traditions. You could rent a bach at the beach to get a feel for a traditional Kiwi summer, get a sense of Maori culture through the historical immersion of the Manea Footprints of Kupe exhibit in the Far North or try the healing practices of Wai Ariki Hot Springs and Spa. Even just attending a rugby game might be an experience, to see what it’s like to be on the All Blacks’ home side.

Healthcare

New Zealand has a high-quality public health system, which is generally well-equipped to deal particularly with acute medical conditions. You will usually pay an amount to see your GP, although this is often discounted for retirees, particularly those with a Community Services Cards or High Use Health Cards. You can also choose to take out health insurance to access treatment in the private sector, if you wish. Before you are a resident, you are covered under a reciprocal arrangement with the UK, which is designed to cover acute health needs. Once you are a resident, you are entitled to the same healthcare as citizens.

Housing

There are multiple options for housing in retirement. You might choose to rent for flexibility, buy a house or apartment, or consider a retirement village or lifestyle community. You can buy property in New Zealand once you are a permanent resident and meet the ‘ordinarily resident’ requirements. Be prepared – some migrants notice that house prices in New Zealand seem high. Housing here tends to be less high-density than the UK, and it’s easier to buy land and build, if you want to. New Zealand does not have any stamp duty or inheritance tax.

Funding your retirement

From July 2024, the number of years that people need to have lived in New Zealand to get NZ Super is slowly increasing, from 10 to 20. If you qualify for an NZ pension, the pension is not income- or means-tested, but some overseas pensions, including a state pension from the UK, can reduce the amount of pension you receive from the New Zealand government.

If you have a private UK pension, you might choose to move this to a qualifying recognised overseas pension scheme in New Zealand.

This can sometimes make things such as estate planning more straightforward, and allow easier investment oversight. But timing is important and there is only a four-year exemption period in which the transfer can be made taxfree. As experts in this process, we can help you work out whether a transfer is an appropriate move for you.

UK Pension TransfersMake the right decision for your needs