As you'll have heard in the news this morning, the Retirement Commissioner has called for a 10-year roadmap and cross-party agreement, following the release of its review of New Zealand's retirement system.
More Kiwis are living longer, working differently, and facing pressures around housing and care. We're facing a huge rise in the number of older people. At the same time, we're facing fewer working Kiwis who can pay for the associated costs of aged care. Current data shows that right now, for every 100 people of working age, we have 28 retirees. Those numbers are changing quickly. By 2050, just 25 years away, we're looking at 38 retirees per 100 workers. By 2060, we'll have twice as many retirees compared to workers.