Jumped on live chat and decided to see how quickly I'd get served (very quickly, in this case).

Here's what the agent said, which is a much "neater" explanation than what is in the official documentation:

Thanks for your question about your Parental Status Hold. Here's a quick summary to help you with your concern 💖

• Do I keep my Elite benefits until 31/10/2026?
  Yes, you’ll continue to enjoy all Elite benefits during the hold, including lounge access, extra carry-on (2 bags, up to 14kg total), and other perks. Just note that no new Recognition Upgrades are issued, but you can still use any you already have.
  
• What happens after the hold ends?
  Your normal 12-month Elite membership will begin on 1 November 2026. You’ll need to earn 1,350 Status Points (810 from Air NZ flights) in that year to keep Elite status.
  
• Do Status Points earned during the hold count?
  No, any points earned during the hold won’t count toward requalifying. Only points earned from 1 November 2026 will count 😊

They then went on to clarify that:

once your Parental Status Hold ends on 31 October 2026, your Elite membership will resume from 1 November 2026 to 31 October 2027. During this 12-month period, you'll need to earn 1,350 Status Points (including 810 on Air New Zealand-operated flights) to keep your Elite status for the following year.

You keep all Elite benefits during the hold, except:

• No new Recognition Upgrades
• Status Points earned during the hold don’t count toward requalification

From 1 November 2026, your regular Elite year beginss 😊 Also, status Points will start counting from that date onward 💖

So I must admit it seems a very generous system. Basically you get a year of additional elite status for whatever flying you might do during the status hold (with all perks except for no new RU vouchers) and then another full year thereafter to requalify.

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