Thinking of retirement living? Read these key financial tips
Just like any property purchase, moving into a retirement village is a big financial commitment. Every village operates a little differently, and fees or conditions can vary from village to village and region to region. Getting specialist legal advice is one of the best ways to make sure you understand...
Is a care suite different to a serviced apartment?
A care suite is a hybrid-type option that combines a village offering (meaning it requires an upfront ‘purchase’ price) and support at a higher level of care as certified by Manatū Hauora Ministry of Health and governed by the Age Related Residential Care (ARRC) Agreement. They may also be referred...
How much are rates rebates in New Zealand?
For older people, particularly those on low or set incomes, rates increases can be stressful. A rates rebate gives some relief. The threshold was increased for the 2025/2026 year: Maximum rebate $805. Income threshold $32,210. If you think you are eligible, contact your local council after you get your rates...
Are there rental options for older people in New Zealand?
Home ownership in New Zealand has been declining for the past 30 years, a fact that has been exacerbated more recently by rising inflation and the increased cost of living. As a result, an increasing number of older people rent. While there are a variety of rental options that may...
What is an EPA? What you need to know.
Enduring Powers of Attorney (known as an EPA or EPOA) are legal documents that allow you to appoint someone you trust to make decisions for you if you are no longer able to do so yourself. Some people set an EPA up when they buy their first home or start...
Watch out for these ageist terms
Ageism is a prevalent issue in New Zealand – as it is for older people globally - and it is often perpetuated through the use of certain words, terms, and phrases. These words can be derogatory and disrespectful, even if they are used casually or unintentionally. It's essential to be...
Who is NZ's Retirement Commissioner and what is their role?
The Retirement Commissioner in New Zealand is a government-appointed position as part of Te Ara Ahunga Ora Retirement Commission. The role is responsible for advocating for the interests of older people in relation to retirement income policies (such as New Zealand’s NZ Super pension scheme), services and products. The current...
Are rest homes free for the elderly?
No, rest homes and residential care facilities are not free for older people. Paying for, or contributing towards, rest home care and other residential care services is your responsibility, much like any other living arrangement. Eldernet lists providers who meet certain requirements and have a Maximum Contribution (MC) limit. This...
Considering downsizing?
Consider the following: lots of your friends are downsizing and your children think it would be a good thing to do, but you're undecided. What are your options and what do you need to consider? Downsizing usually means moving house, and regardless of age is a challenging time. There are...
Key terms and concepts in the older persons’ health sector
10KM RULE: This rule deals with the situation where an intending resident’s first choice of care home only has a room available that attracts extra fees and the person doesn’t want to, or cannot afford to, pay those fees. ACC: Accident Compensation Corporation. ADVANCED CARE PLAN & ADVANCED DIRECTIVES :...
Understanding the Deferred Management Fee
The following example shows how the Deferred Management Fee (DMF) is worked out in New Zealand, and how it affects the final payment to you or your estate when you leave a retirement village. Example – Mr C Mr C chose a unit in a village close to his old...
Does the 2023 change of government affect the health system?
There have been a number of significant health system changes in New Zealand Aotearoa since 2022 (e.g., the establishment of Health New Zealand | Te Whatu Ora and related agencies by the then Labour Government). The General Election of late 2023 saw a National, ACT and New Zealand Coalition Government...
What is a statutory supervisor?
In New Zealand, all registered retirement villages are required to have a Statutory Supervisor. This is an independent role, separate from the Village Manager. The statutory supervisor keeps an eye on the financial management of the village and the security of the residents. They are regulated by the Financial Markets...
Mythbusting - Will I get access to care on site?
If I live in a retirement village will I get access to the care home on-site? The truth is that if you need a high level of support and can no longer stay in your village unit, you are likely to be able to access care in the onsite care...
Can I move to a rest home now?
Unless you are a a fully-private payer (i.e., paying for your care completely out of your own pocket), to move into a rest home or care home in New Zealand you will need to have an assessment, known as interRAI. This determines whether you need this type of care and...
Thinking of retirement living? Start here
Retirement villages in New Zealand vary greatly – in size, location, on-site offerings, ownership, philosophy and of course price. Choosing the right one really comes down to finding a village that fits your lifestyle, expectation, and future needs. Before you get your heart set on any particular village or unit,...
I'm going to a rest home? Will I have to pay for my care?
You are responsible for paying for, or contributing towards, residential care services just as you would pay for whatever you needed if you lived elsewhere. There is a maximum amount that you will have to pay (as long as provider meets certain requirements which all providers listed in the residential...
What is a Residential Care Loan?
In order to receive subsidised residential care, you need to pass a financial means assessment. This involves an asset test. If owning your former home puts you over the Asset Threshold and your other assets are under it, you may be able to get a government funded Residential Care Loan...
What is the Code of Residents Rights?
The Code of Residents' Rights outlines the basic rights you have as a resident living in a New Zealand retirement village under the Retirement Villages Act. A copy of it must be given to intending residents with their disclosure statement, as well as to any resident or potential resident if...
What is a Disclosure Statement?
A Disclosure Statement is one of the documents you will receive if you intend to ‘purchase’ into a village (alongside an Occupation Right Agreement ). A Disclosure Statement is an important document to read and understand, as it explains the key information about moving to a village, including the type...