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The retirement category visa is open to those aged 65 and over, and takes the form of either a parent retirement visa - for those with family in the country - or a temporary retirement visa for those who have no existing relationship with New Zealand.
Before this, Immigration New Zealand did not have a fixed retirement policy, and did not accept British migrants over the age of 56.
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Payments can be made to single people or married couples.
It is expected that most people will also save into a private pension scheme in order to supplement their retirement income as it is unlikely that the Superannuation will cover anything more than basic living costs (see below, living costs).
This visa can be renewed after two years, provided that settlers continue to meet the criteria.
The parent visa grants permanent residency to applicants who have an equal number or more of their family inside New Zealand than anywhere else.
Pensioners moving to countries in Europe, the USA and non-Commonwealth countries receive their pensions as normal.
New Zealand also ranked first out of all countries for the best "expat experience" in a recent HSBC survey.
The category covered an expat’s lifestyle, the level of ease in which they set up in their new country, how well they integrated into the local community, and their overall quality of life.
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If you're thinking of retiring to New Zealand, the good news is that older people there report themselves to be happier than any other age group in the country.
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The temporary retirement visa offers a two-year permit for British people who wish to spend some of their retirement in New Zealand, provided that they invest in the country.