Managing finances through your retirement years

Make the most of your retirement income

We've listed below some information to help you navigate finances in your golden years. Check out Finance page for more information.

Transitioning from work to retirement

Most of us prefer to retire gradually rather than move abruptly from full-time work to non-employment.  If you are like many seniors in the Hutt Valley you may be working flexible hours, part-time or casual work, consultancy or mentoring before retiring completely.

If it's possible, maintaining an income source into your late adulthood can make good financial sense - did you know it doesn't affect your entitlement to NZ Super?  

        Managing our retirement income in Lower Hutt and Upper Hut
Santa and a Christmas fairy, aka Les and Gillian Isaac of Eastbourne. Photo kindly supplied by Hutt News.

Budgeting and financial advice for seniors

Want to find out what NZ Superannuation payments will be when you turn 65 for you and your spouse?  Read MOSD seniors booklet - it's full of information you'll want to know. 

Here are some good websites to help you plan your finances into retirement -

  • Sorted NZ devotes a section to retirement living and covers retirement planning, income, asset protection, insurance, budgeting
  • Senior Line covers issues such as making a will, advance care planning, enduring power of attorney, pre-paid funeral trusts, gifting and residential care and acting as guarantor
  • Managing your finances in retirement from Upper Hutt City Council lists local agencies offering free legal and budgeting services, advice on Home Equity Release schemes and family trusts and Enduring Power of Attorney 
Work and Income New Zealand in Lower Hutt and Upper Hutt

Here's a list of all benefits available for people 65 years and older. You can call WINZ ph 0800 552 002 or use the Deaf Link contacts : free-fax 0800 621 621, telephone typewriter (TTY) 0800 111 113, text 029 286 7170 or email.  WINZ has four offices in the Hutt Valley -

  • Wainuiomata - Wainuiomata Community Link, Shop 6, The Strand
  • Lower Hutt - 317-327 High Street, Lower Hutt 5040
  • Naenae - Naenae Community Link, 2 Vogel Street, Naenae
  • Upper Hutt - 162-164 Main Street, Upper Hutt
Agencies offering financial and legal support for seniors in Lower Hutt and Upper Hutt
  • Citizens Advice Bureau offers free budget service Mon-Fri and legal advice every Thursday at 6pm
    - Petone CAB : ph 04 568 8877 email located at 6 Britannia Street
    - Lower Hutt CAB : ph 04 566 6039 email located at Apex House, crn Queens Drive and Laings Road
    - Upper Hutt CAB : ph 04 528 9040 email located at 8 Logan Street
  • Veterans' Affairs New Zealand provide case management support to veterans who have served in a recognised war or emergency and may be able to offer support to family members also phone 0800 4838 372
  • Wainuiomata Community Centre  offers budget advice and legal advice Monday to Fridays (though times do vary, so call the centre to find out more) ph 04 570 6020
  • Hutt Valley Community Law free clinics, Naenae library Tues 2.00pm
  • Upper Hutt Grey Power Association Inc meet 3rd Wed of the month at 2.00pm at the HAPAI Building. Ph Robert Bryan 04 977 3144
Advocacy for seniors in the Hutt Valley

If you would like someone to advocate on your behalf contact Age Concern Wellington, ph 04 499 6646 email, or visit their website


  • New Zealand Superannuation
    You will receive a birthday card from WINZ and IRD just before your 65th birthday to confirm your entitlement to NZ super. Once you are 64 years and 9 months or over, a New Zealand citizen or permanent resident, you can apply online. Payment begins from the time of registration so apply early as payments are not back dated. You may need to make an appointment with Work and Income ph 0800 552 002 or email 
  • War Veteran Pensions
    New Zealand War Veterans are entitled to special benefits or pensions. Read how to apply or phone the War Pension centre 0800 650 656.
  • Overseas Pensions
    If you have lived overseas you may be eligibile for an overseas pension.

Elder financial abuse and online scams

Many seniors do not realize the value of their assets, particularly if their homes have appreciated markedly. Sadly, elderly are vulnerable to being financially abused by their own families, friends and associates. Older people are also attractive targets for scams.

If you are at all concerned that you are being abused financially contact Age Concern elder abuse who can advocate on your behalf
Ph Sheila Reed 04 499 6646 

Here is a list of elder financial abuse indicators that you or your family member may be experiencing. 

NZ Police has information on internet scams.

Wills, trusts and enduring power of attorney

Do you need a will? Should you set up a Trust? Gillespie Young Watson in Lower Hutt, offers some good articles covering both of these topics and SortedNZ has a comprehensive section on wills too. Senior Line covers issues such as making a will, advance care planning, enduring power of attorney, pre-paid funeral trusts, gifting and residential care and acting as guarantor.

NZ Super Gold Card

The SuperGold Card offers saving in New Zealand and Australia. If you wish to receive your SuperGold Card by age 65 will need to be approved at least three weeks before turning age 65! 

Visit the website to find out how you can save money - 

Subsidies and allowances for housing and health

Rates rebate scheme

You may qualify for a rates rebate scheme. The income threshold for a full rates rebate is $23,870pa and is $500 for each dependant in the household. Homeowners can apply for the new rebate from 1 July 2013, for the 2013/14 rating year. The closing date for applications is 30 June 2014.

Residential Care Loan

Many people going into residential care want to keep their home. Rather than selling your home to pay for your care, WINZ may be able to help you with a Residential Care Loan. This is an interest free loan paid to the hospital or rest home and is usually repaid when your home is sold. Ph WINZ 0800 999 727

Health subsidies

Visit WINZ Senior for a comprehensive list of health allowances for those over 65 +years.

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