wendy_woo

Hi, I am Wendy, I am currently living in Essex, I am 61 and OH 64 both retired, our Daughter lives in Auckland has been there for around 7 years now, she has just bought her first house with her partner (no grandchildren yet!) and we are planning to join her under the Parent Category, I have lots of questions around UK vs NZ Superannuation cannot find the right thread to post it to yet! Planning to take completed appications to Haymarket mid sept 2011

chc4me

Hi Wendy,

Ask your questions here and we'll give it a shot. The combined knowledge of BritishExpats is amazing!

Debbie2NZ

You might want to speak to a company based in Surrey called Montfort. They are pension/financial specialists regarding emigrating to NZ. Good luck with your plans. Also, you may wish to ask how you would transfer your pension back to UK if you had transferred it to NZ and wish to return it to the UK.

BEVS

You are using the term Superannuation . That's an NZ terminology.

Are you talking about UK state pension v NZ state superannuation?

Are you further wishing to discuss private UK pension transfers?

wendy_woo

Hi, I am just talking about the UK State Pension just getting used to the terminology NZ Superannuation (for now I am sure, private is something else and I am sure even more complex!)

I was hoping someone has been there in front of me! My OH and I are both entitled to UK State Pensions and these are enhanced because of SERPS and S2P that we earnt whilst we were working, this puts our Pensions from the UK around £40 per week than if we took the joint NZ Superannuation, I understood there could be "special circumstances" regarding the way this additional pension was earnt that may allow an enhanced NZ Superannuation, has anyone had experience of that - my thoughts are this is probably unlikely. Also does anyone know if you can switch from UK State to NZ Super at anytime or is there a deadline, for example if the currency rates between UK and NZ become so poor it is better to take NZ Super and enjoy the inflation linking? An finally if you retain your UK Pension are you entitled to other OAP benefits, in particular I am interested in the Goldmember card that is provided to all NZ Superannuated Pensioners - lots of questions there!

Many thanks if anyone has any answers or recommendations?

chc4me

NZ has one rate for NZ Superannuation (the amount paid by the Govt). To qualify for NZ Superannuation, you need to be over 65. Thats it, nothing else, no income checks, no national insurance contributions, no SERPS, or anything else. Retirees qualify once they turn 65. The maximum for a single person is $17,676 (after tax) per year and increases normally with inflation. For a couple the amount is $27,194 per couple if both are aged over 65.

There is a category for partners if they are under 65, then they can claim a reduced amount (eg OH is 65 and you are 62). The total for the couple would be $25,845 (after tax) per year, but if only one of you is over 65, then then other earnings are taken into account and could reduce the superannuation payment. More information at www.sorted.org.nz

In terms of switching from a UK state Pension to a NZ Superannuation, there is no deadline or any other requirement. It is purely down to you to decide when the best time is, obviously after you have done your sums to work out which option will give you the most money in your pocket!

For the SuperGold Card, to qualify, you need to be over 65 and resident in NZ. I guess you will need to show proof of your residents visa. To apply, go to www.supergold.govt.nz

Hope that helps, and good luck with the move.

BEVS

OK. People will certainly have been there before you. Wait for them .

I've basically retired here. Husband has not.

wendy_woo

Thank you so much for the sorted web site, looks like a font of all knowledge! I am currently getting a UK State Pension which started at 60, I will not be 65 until 2015, so I guess it may be best to wait for me to get to that age and see how things are re currency exchanges, looks like I have to wait for supergold too!

mickey_d

You would have to live here for 5 years before you could claim it though.

chc4me

Mickey_d is referring to the rule: "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."

However the good news for British expats is that time spent in the UK counts. Therefore as soon as you are resident, and aged 65, you qualify for NZ Superannuation. More info here: http://www.workandincome.govt.nz/ind...-overview.html

Happy days!

mickey_d

I mean't to put a question mark at the end of my quote, so you've aswered my doubts

royston10

WE ARE A RETIRED COUPLE ,AND HOPE TO BE MOVING OUT TO N.Z IN JANUARY FEB.WE SHALL BE GETTING OUR PENSIONS PAYED INTO AN ENGLISH BANK FOR A START .WE ARE BOTH ON REGULAR MEDICATION ,AND HAVING HAD TO VISIT THE DOCTOR WHEN WE WERE LAST HOLIDAYING THERE AND HAVING TO PAY $100 TO SEE A DOC AND GET SOME MEDICATION I AM WONDERING IF WE SHALL BE ABLE TO AFFORD OUR MEDICATION ONCE WE GET OUT THERE.
I HAVE BEEN ADVISED THAT PENSIONERS GET SOME FORM OF REDUCTION BUT HOW DO WE GET IT WHEN WE ARE ONLY JUST STARTING OUR RESIDENCY.WILL THEY ALLOW US TO GET THE REDUCTION .PLEASE SOMEONE ADVISE US .

chc4me

Hi Royston10, Welcome to the site.

From the NZ Immigration website:
"In New Zealand, comprehensive life-long medical care is available to all citizens, permanent residents and work-permit holders who have been issued with a work permit for a minimum of two years. If you meet these criteria, then your partner and children aged 19 years or under will also be eligible for publicly funded healthcare.

If you are visiting New Zealand, or if family or friends are visiting, we suggest you look to take out health insurance. Visitors to New Zealand must pay for health services... "

With the above in mind, assuming you will hold one of the above Visa's, then when you arrive in NZ, register with your local Doctor for subsidised Doctor visits and prescription costs. This can be done in person at the Doctors office.

Also refer to the post above about the Super Gold Card (if you are over age 65) as many Doctors have a tiered rate for Super gold card holders.

You can read more about the NZ Health System at this LINK.


Good luck with your move

wendy_woo

I did an investigation visit in July to get answers to these questions, the doctors' surgery were really helpful, as long as your doctor belongs to what our PCT equivalent is, you get substantial subsidies, I was given $NZ19 for a doctor visit to get the prescription (once a year for my hubby) and $NZ17 for the medicines (3 months supply) (I may have the prices around the wrong way) the doctors surgeries are really helpful! Good luck, wish I was going sooner than 18-24 months promised!

royston10

Many thanks for your information that relieves us quite a bit. So we just go to the doctor we want to be our doctor and register with him or her.and ask for a super gold card which will give us all the reductions we are both pensioners in our seventies and have to have certain regular prescriptions.Once again many thanks for your input Royston10