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New Game Plus (NG+) is a game type in Torchlight II that allows players who have completed the main campaign to restart with the same character and face greater challenges. This replaces the retirement system in the original Torchlight.

To start New Game Plus, speak to an NPC named Felicia who appears in Minehead after you have finished the main quest.

When starting a New Game Plus, the character will retain their full inventory, stash, skills, and statistics, but:

Tiers

There are several levels or tiers of New Game Plus:

Note that player characters reach the level cap at level 100, and most itemization also maxes out at this level. Monster level will still continue to go up past 100, making the game more challenging.
Upon completing NG+4, you may move into NG+5, but the game will not scale higher.
You may continue to loop through the game, but all future playthroughs will be considered NG+5.

Skipping tiers

When you start New Game Plus, the game will select the tier of NG+ that best matches your character's level. This means you may potentially skip one to two tiers.