Analysis Highlights Rising Costs and Demographic Strain on NZ Superannuation
1 report, 1 independent
Updated Oct 1
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What happened
An analysis of New Zealand's superannuation policies revealed that the system faces increasing costs and demographic pressures. The report estimates the superannuation bill could cost New Zealand an extra $3000 per minute by the next decade. Projections show the cost of superannuation rising from around five percent of GDP today to eight percent by 2065.
From rnz.co.nz
Why it matters
The financial strain is driven by a shrinking working population relative to retirees; the ratio is projected to fall from seven workers per retiree in the 1960s to two workers per retiree in 30 years. Politicians are reportedly looking toward KiwiSaver as a potential solution to ease this burden.
From rnz.co.nz
Who's involved
- SmithGenerate KiwiSaver investment specialist who provided the analysis