By 2036, we expect that 21- 24% of New Zealanders will be aged 65 or over, compared with 14 percent in 2012 (Figure 2). By 2061, we expect that 22-30% of the population will be aged 65 or over.
The table below shows New Zealand Superannuation (NZS) rates as at 1 April 2016
This means that a couple will only receive $591.94 per week. If NZS is their only source of income then $591.94 is all they can have to pay for the following costs: accommodation related, vehicle-related, insurance, groceries, utilities, entertainment, lifestyle. Someone living alone will only receive $384.76 per week. Currently, around 75% of retirees enjoy mortgage-free homes however with increasing house prices, more and more people will be paying the mortgage in their retirement.