Few choices in retirement for those without significant savings

Only two-person provincial households living a ‘no frills’ lifestyle came close to being funded by super alone, RNZ reports, though they would still need savings of $77,000. An annual Retirement Guidelines Expenditure report by Massey University points to inflation as the main reason why pensioners on super alone were finding it impossible to make ends meet. While there is no retirement age in New Zealand, the age of eligibility for superannuation is currently 65.