Meet The Residents – Kaye and Tony

Retirement is a milestone to be celebrated—a time to enjoy the freedom, comfort, and lifestyle you’ve worked hard for all of your life. At The Botanic, Silverdale’s premier luxury retirement village, we know that careful financial planning is the foundation for a fulfilling retirement. Whether you’re just starting to think about your future or you’re ready to make the move, understanding the key financial steps, how to save for retirement village living, and the value that The Botanic offers is really important. The Botanic fosters a strong sense of community and support In this article, we will walk you through the essential steps of financial planning for retirement, from understanding your options to making confident decisions about how, when, and where you’d like to enjoy your retirement years.  At The Botanic, we believe retirement should be anything but ordinary. That’s why we support our residents in exploring what’s truly possible, and we know that thoughtful financial planning is a key part of unlocking a lifestyle that’s enriching, inspiring, and purposeful. Key Financial Planning Steps for Retirement 1. Assess Your Retirement Goals and Lifestyle Start by visualising your ideal retirement. Do you see yourself travelling, joining a club, taking up a hobby, entertaining friends, or enjoying a peaceful garden? Your lifestyle goals will shape your financial needs. Tools like the Sorted retirement calculator can help you estimate how much you’ll need for retirement, taking into account both your essential living costs and the lifestyle extras you want to enjoy. 2. Estimate Your Retirement Income For most New Zealanders, retirement income comes from a mix of sources: NZ Superannuation: The government pension, paid from age 65, forms the bedrock of retirement income for many. However, it may not be sufficient for a comfortable lifestyle, especially if you’re renting or have ongoing medical expenses. KiwiSaver: If you’ve contributed to KiwiSaver, you can access your savings from age 65. You can choose lump-sum withdrawals or regular payments to supplement your income. Personal Savings and Investments: These might include term deposits, shares, managed funds, or proceeds from selling your family home. Other Income: Rental income, part-time work, or iwi-based schemes (such as Ngāi Tahu’s Whai Rawa) can also play a role. 3. Budget for Retirement Living A clear budget is your best defence against financial surprises. Start by listing your expected income and expenses. Essentials like housing, utilities, food, and insurance should be covered first. Then, allocate funds for hobbies, travel, and unexpected costs such as healthcare or home repairs. A popular budgeting approach is the 50-30-20 rule: 50% for essentials 30% for wants 20% for savings or debt repayment Planning now means you can enjoy retirement living in the peaceful and relaxing environment at The Botanic 4. Plan for Longevity With many retirees living well into their 80s and beyond, it’s wise to plan for 25–30 years of retirement. The Massey University Retirement Expenditure Guidelines highlight the importance of balancing your desire to enjoy life now with the need to avoid running out of funds too soon. 5. Aim to be Mortgage-Free Being mortgage-free by retirement is a significant advantage. Without the burden of repayments, you’ll have more control over your finances and less risk of being affected by rent increases or housing market changes. 6. Consider Professional Advice A qualified financial adviser can help you create a personalised retirement plan, optimise your investments, and ensure you’re making the most of government entitlements and tax efficiencies. Saving for Retirement Village Living Understanding the Costs Moving into a retirement village is a major financial decision. Here’s what you need to know: Entry Price: Most villages, including The Botanic, operate on a Licence to Occupy (LTO) or Occupational Rights Agreement (ORA) basis. This means you pay a lump sum for the right to live in your chosen home, but you don’t own the property. Entry prices typically range from $400,000 to $800,000+, depending on location, size, and amenities. Weekly Fees:  These fees cover maintenance, security, insurance, gardening, and communal facilities. At The Botanic, the Outgoings Payment (weekly fee) is $185 per apartment or villa, and is fixed for life. Deferred Management Fee (DMF): When you leave, a DMF—usually 20–30% of your entry price—is deducted. This fee is often capped after 3–5 years. At The Botanic, the DMF is calculated at 10% per year for three years and will not exceed 30% of your entry payment. If you live with us for less than three years, the DMF will be accrued on a pro-rata basis. Budgeting for Village Living When planning your move, consider: How much equity you’ll release from selling your home Your expected weekly expenses Potential for future care needs The value of amenities and services included in your fees Michelle Pipping, the Sales Manager at The Botanic Silverdale, says, “Retirees deserve and welcome the transparency of our pricing and the peace of mind that comes from having a good understanding of your living costs. It means they don’t have to worry about the bills, and they can focus on enjoying life!” How The Botanic Offers Value for Investment Choosing the right retirement village is about more than just cost—it’s about value, security, and lifestyle. Transparent Pricing and No Hidden Costs At The Botanic, all fees are clearly outlined from the start. There are no hidden costs, so you can budget with confidence. Your beautiful home, the landscaped gardens, and a host of amenities throughout the village are all available to you. Premium Amenities Residents enjoy access to a wellness centre, gym, pool, The Clubhouse Café, community gardens, and a full calendar of social events and hobby groups. These amenities are included in your weekly fee, offering exceptional value compared to maintaining similar facilities in a private home. More village amenities are also in the pipeline at The Botanic. World-class amenities help our residents stay active As well as staying active, our world-class amenities help residents to socialise Community and Connection Kathryn Rule, a Sales Consultant at The Botanic, shares, “The sense of community here is incredible. Residents quickly build friendships and find support, whether it’s joining a gardening club, attending a fitness class, or simply sharing a coffee in The Clubhouse Café.” Security and Peace of Mind With onsite staff, secure facilities, and emergency support, you and your family can rest easy knowing help is always close at hand. Flexibility for Future Needs In time, an aged care home and specialist memory suite will ensure residents have access to the full range of aged care at The Botanic, enabling you to remain in the community you love as you age. Learn More About Your Retirement Journey Understanding Retirement in New Zealand: A Comprehensive Guide Retirement Age in New Zealand: What You Need to Know NZ Superannuation and Eligibility: What It Means for Residents at The Botanic Final Thoughts Financial planning for retirement is about more than just numbers—it’s about creating the life you want. By understanding your income sources, budgeting for your needs, and choosing a retirement village that offers genuine value, you can step confidently into this exciting next chapter of life. At The Botanic, our team, including Michelle and Kathryn, are always available to chat about your options and share what makes our community special. We invite you to visit, ask questions, and see for yourself how luxury retirement living can be both attainable and rewarding. Ready to plan your future? Contact The Botanic today and start your journey towards a life less ordinary.

Retirement is a time to enjoy the rewards of a life well lived, and for many New Zealanders, NZ Superannuation provides a vital financial foundation for this next chapter. At The Botanic, Silverdale’s premier luxury retirement village, we understand how important it is to make informed decisions about your entitlements and how to make the most of them. This guide explains how NZ Super works, who’s eligible, how to apply, and how it fits with the lifestyle and financial model offered at The Botanic. Learn more: Understanding Retirement in New Zealand: A Comprehensive Guide The Botanic helps residents to make informed decisions about retirement Overview of NZ Superannuation and Eligibility Criteria NZ Superannuation is New Zealand’s universal retirement benefit, designed to provide a regular income to eligible seniors from age 65. It is funded through general taxation and is not means-tested, meaning your assets and most other income sources generally do not affect your payments. Who Is Eligible for NZ Super? To qualify, you need to meet the following criteria: Age: You must be 65 years or older. Residency: You must be a New Zealand citizen, permanent resident, or hold a residence class visa. Ordinary Residence: You must be ordinarily resident in New Zealand, the Cook Islands, Niue, or Tokelau at the time of your application. Time in NZ: You must have lived in New Zealand for at least 10 years since turning 20, including at least 5 years since turning 50. Important Update: From July 2024, the residency requirement will gradually increase to 20 years by July 2042. This means that if you turn 65 after July 2042, you’ll need to have lived in New Zealand (or the qualifying Pacific nations) for 20 years since age 20, with at least 5 years since age 50. Special Cases: Different rules may apply if you’re a refugee or protected person, or if you’ve lived in a country with a social security agreement with New Zealand (such as Australia or the UK). Read more: Retirement Age in New Zealand: What You Need to Know Can You Work and Receive NZ Super? Yes. You can continue to work while receiving NZ Superannuation. Your payments are taxed as income, and your tax code may change based on your total income. However, NZ Super is not reduced if you keep working, though other benefits (like Accommodation Supplement) may be affected. How to Apply for NZ Superannuation and What to Expect Applying for NZ Super is a straightforward process, but timing and preparation matter. When to Apply You can apply up to 12 weeks before your 65th birthday or at any time after turning 65. If you apply before or on your 65th birthday, payments start from your birthday. If you apply after turning 65, payments start from the date you apply (they are not backdated). The Application Process Get a Client Number: If you don’t already have one, you’ll need to register with Work and Income to receive a client number. Apply Online or In Person: Most people apply online via MyMSD, but you can also apply in person at a Work and Income office. Complete the Application Form: Fill out the required details, including your residency history and personal information. Provide Documentation: You’ll need to supply original government-issued identity documents such as a passport or birth certificate (not copies), proof of your bank account, and, if applicable, evidence of residency or citizenship. Attend an Appointment (if required): You may be asked to attend a meeting to verify your documents and answer any questions. Processing Time: Once submitted, your application is processed, and you’ll be notified of the outcome. Payments are made fortnightly. Tip: Delays in providing documents can result in payment delays or a cancelled application. Make sure everything’s ready to go. Special Circumstances Living Overseas: If you’re living in the Cook Islands, Niue, or Tokelau, the process is slightly different. If you’re in another country, contact Work and Income’s International Services for guidance. Overseas Pensions: If you or your partner qualify for an overseas pension from another country, you are legally required to apply for it. This can affect your NZ Super payments. For more information, visit the Work and Income NZ Superannuation page or the New Zealand Government guide. At The Botanic, there are no hidden costs, so you can enjoy being part of the community The Botanic's fees include access to shared amenities Supplementing NZ Super with Village Living: Cost Considerations While NZ Superannuation provides a reliable base income, many retirees choose to supplement it through savings, KiwiSaver, or the sale of their family home. This is where retirement village living at villages like The Botanic can offer both value and lifestyle. Understanding the Costs Weekly Fees: Retirement villages typically charge a regular weekly fee covering the upkeep of facilities, maintenance, staff, insurance, and communal amenities. At The Botanic, this fee is fixed for life, for predictable budgeting. Occupational Right Agreement (ORA): When moving into a village, residents usually purchase an ORA, which gives them the right to occupy their chosen apartment or villa. The cost reflects the home and the amenities provided. Equity Release: Many residents fund their entry into a retirement village by selling their home, and freeing up capital to enhance their retirement lifestyle. The Botanic Advantage At The Botanic, we’re upfront about costs and committed to providing exceptional value and support. Our model is designed to give residents the freedom to enjoy life – with fewer financial surprises. Maximising Your NZ Super at The Botanic Predictable Costs: Fixed weekly fees help you plan your finances with confidence. No Hidden Costs: The maintenance and repairs are taken care of. Shared Amenities: Access to premium facilities like the café, wellness centre, gardens, and events. A Vibrant, Supportive Community: Enjoy a vibrant, social lifestyle with opportunities to connect, participate, and thrive. Peace of Mind: Onsite support and security allow you to focus on what matters most. Frequently Asked Questions What is the residency requirement for NZ Super eligibility? Currently, you must have lived in New Zealand for at least 10 years since age 20, including 5 years since age 50. This will gradually increase to 20 years by July 2042. Can I receive NZ Super if I’m still working? Yes, you can. NZ Super is not means-tested, so you can work and receive your Super, although your tax rate may change. What documents do I need to apply for NZ Super? You’ll need original identity documents (passport, birth certificate), proof of residency or citizenship, proof of bank account, and your tax number. Additional documents may be required if you have a partner or are applying for extra help. Is NZ Super enough to cover retirement village living costs? NZ Super provides a base income, but many residents supplement it with savings, KiwiSaver, or proceeds from selling their home. The predictable costs and shared amenities at The Botanic help residents to budget, and make the most of their income during their retirement. Conclusion NZ Superannuation offers certainty in retirement, but planning how to make the most of it is key. With transparent costs, supportive community living, and easy access to everything you need, The Botanic is a place where your Super supports the lifestyle you’ve earned, and life feels richer. Ready to learn more? Contact The Botanic today and discover how we can support your next chapter and help you retire with confidence, comfort, and care.

Retirement is a personal milestone, shaped by your lifestyle, individual goals, and circumstances. If you’re planning your next chapter, it’s important to understand the retirement landscape in New Zealand, including when people typically retire, what the law says, and how New Zealand Superannuation fits in. At The Botanic Silverdale, the Hibiscus Coast’s premier luxury retirement village, we’re committed to helping you navigate this transition with confidence and clarity. In this article, we explore the current retirement age trends in New Zealand and the key factors influencing when and how people choose to retire. Want a broader overview? Check out our recent post “Understanding Retirement in New Zealand” for more on planning, lifestyle, and what to expect in this exciting stage of life. Luxury retirement living at The Botanic Silverdale Current Retirement Age in New Zealand and Trends No Legal Retirement Age Many people assume retirement is mandatory at 65, but in New Zealand, there’s no legal retirement age. While 65 is often seen as the ‘retirement age’ because it marks eligibility for New Zealand Superannuation (NZ Super), there’s no requirement to stop working. In fact, unless a role has specific age-related requirements, employers generally can’t force retirement. Retirement Patterns and Workforce Participation Traditionally, many New Zealanders have chosen to retire around 65, aligning with NZ Super eligibility, but that pattern is shifting. According to the Retirement Commission, around 27% of people aged 65 and over now continue to work for pay – and the number is growing. Workforce participation among older adults has nearly doubled in recent decades. As of 2013, a third of people aged 65 to 74 were still employed, and this trend is expected to continue as more Kiwis enjoy longer, healthier lives, and choose to remain active – socially, mentally, and financially. Demographic Shifts New Zealand’s population is ageing rapidly. In 2006, 12.3% of the population was aged 65 or older. By 2018, that number had increased to 15.2% and it’s projected to rise up to 26% by 2048. These demographic changes are reshaping how – and when – people choose to retire, prompting more thoughtful planning around how retirement is lived, not just when it begins. Stay well and active at The Botanic Resident-led wellness in our 20m lap pool Factors Influencing Retirement Age Retirement decisions are rarely based on age alone. Several key factors play a role: Health: Good health enables many to work beyond 65, while some people experience health challenges that may prompt earlier retirement. Studies consistently show that both physical and mental health are major determinants of when people exit the workforce. For example, men in good health at 65 have a 70% probability of remaining in the labour force. Finances: Financial security is a significant factor. Some continue working to boost their retirement savings, while others retire as soon as they feel their finances are sufficient. Access to NZ Super at 65 provides a safety net, but many supplement this with KiwiSaver, investments, or part-time work. Lifestyle Goals: Many retire to pursue travel, hobbies, volunteering, or family commitments. Others transition gradually, reducing work hours or shifting to less demanding roles. Family Responsibilities: Caring for a partner, grandchildren, or other relatives can also influence the timing of retirement. Workplace Factors: Job satisfaction, workplace culture, and opportunities for flexible or part-time work may encourage people to stay at work or in employment for longer. Eligibility for NZ Superannuation NZ Superannuation is the government’s pension scheme, providing a regular income to eligible New Zealanders from the age of 65. Here’s what you need to know: Eligibility Age: 65 years (as of May 2025). Residency Requirements: You must be a New Zealand citizen or permanent resident, ordinarily resident in New Zealand, and have lived in the country for at least 10 years since age 20 (including five years since age 50). No Means Test: NZ Super is not means-tested, so you can receive it regardless of your other income, though your tax code may change if you keep working. Payment Frequency: NZSuper is paid fortnightly, with the amount depending on your living situation and tax code. Read more: NZ Superannuation and Eligibility: What it Means for Residents at The Botanic For the most up-to-date details, visit the Work and Income NZ Superannuation page or the Employment New Zealand retirement guide. Kathryn, our Sales Consultant, discussing our new Rimu apartments Michelle is The Botanic’s highly experienced Sales Manager How The Botanic Supports a Smooth Transition into Retirement Living Moving into retirement is about more than just stopping work - it’s about embracing a new lifestyle and an exciting new chapter in life. At The Botanic, we understand that this transition may feel daunting, which is why we offer comprehensive support every step of the way. Personalised Relocation Support: Our experienced team works closely with each new resident to create a tailored relocation plan, offering advice on downsizing, moving logistics, and home setup. Partnered Moving Services: We collaborate with moving professionals who specialise in senior relocations, ensuring your belongings are handled and relocated with care. Home Personalisation: From furniture placement to accessibility features, we help make your new villa or apartment truly feel like home. Emotional and Social Integration: Resident mentors, welcome events, and a vibrant community spirit help you settle in and build connections from day one. Ongoing Support: Our team and resident community are always available to answer questions and offer help, ensuring you feel safe, supported, and at home. Residents often tell us that the care and support they receive at The Botanic make their move not only seamless but truly uplifting – a fresh chapter, surrounded by good company, peace of mind, and a renewed sense of purpose. Frequently Asked Questions Is there a legal retirement age in New Zealand? No, there is no legal retirement age in NZ. Most people retire around 65, but you can choose to retire earlier or later depending on your circumstances. When can I start receiving NZ Superannuation? You become eligible for NZ Super at age 65, provided you meet the residency requirements. You can apply up to 12 weeks before your 65th birthday. Can I keep working and still receive NZ Super? Yes, you can continue to work and receive NZ Super. Your payments are not reduced by your earnings, but your tax code may change depending on your total income. What support does The Botanic offer for new residents? The Botanic provides personalised relocation consultations, moving services, home personalisation, and ongoing social and emotional support to ensure a seamless transition into retirement living. Conclusion Retirement in New Zealand offers flexibility, security, and choice. Whether you retire at 65 or continue working, understanding the NZ retirement age, legal requirements, and eligibility for NZ Super is vital for planning your next steps. At The Botanic, we’re here to support you - every step of the way. Ready to explore your options? Contact The Botanic and discover how luxury retirement living in Silverdale can help you embrace a life less ordinary.