Retirement should be a time of peace, but financial uncertainty, especially after losing a partner, can bring stress. In New Zealand, when one spouse passes, NZ Superannuation drops to the single rate, while household expenses like insurance, utilities, and council rates remain unchanged. This leaves many struggling to maintain a two-person household on a single income.
We believe our partner Lifetime Retirement Income can help here. Have a read of Chelsea Devlin's article here: Ensure Security for You and Your Partner with Lifetime Retirement Income.
Or you can read article published in full below and tell us what you think in the comments section.
Retirement is meant to be a time of peace and enjoyment, but financial uncertainty can quickly turn those golden years into stressful times - especially after the loss of a partner.
A common yet overlooked challenge is the financial strain that occurs when one spouse passes away, leaving the surviving partner with reduced income but unchanged expenses.
In New Zealand, when a partner passes, your NZ Superannuation payments drop to the single rate, yet household bills - like home insurance, utility costs, and council rates—stay the same. It’s a harsh reality many face: trying to maintain a two-person household on the income of one.
The emotional toll of losing a loved one can be overwhelming, and the added financial burden only compounds the stress.
This is where Lifetime Retirement Income steps in with a solution: joint retirement income plans. Designed specifically for couples, these plans ensure that your retirement income remains stable, even after the loss of a partner.
While your NZ Superannuation reduces, Lifetime’s consistent payments provide financial security, enabling you to cover expenses and continue living comfortably. It’s the peace of mind you and your partner deserve.
A joint retirement income plan ensures that if one of you passes away, the surviving partner won’t be left to cope with reduced income or navigate complex financial strategies.
With Lifetime Retirement Income managing the plan, there’s no need for the surviving partner to learn or manage intricate financial details - Lifetime takes the complexity out of your income.
Retirement planning is about more than just today - it’s about securing the next 20 years and beyond. Lifetime Retirement Income offers a simplified, sustainable plan designed to last, even if your circumstances change - like the loss of your partner.
Have you thought about Lifetime Retirement Income to look after your money in retirement?
They know that people spending in retirement require significantly different strategies to those who are saving for retirement. They manage retirees money a little differently to people who are saving for retirement. The reason for that is they have to make sure retirees savings last.
Click on the button below to ask a question or contact the Lifetime Retirement Income Team.