New Zealand has a universal pension entitlement at age 65- no means testing but any additional income is taxed via the progressive tax system. A couple receive about $NZ900/week. A single person over 65 gets about $NZ500/week. Enough to live a modest comfortable life, as long as you own your home debt free. We also have a voluntary employer subsidised retirement savings scheme called 'Kiwisaver'. NZs universal entitlement retirement pension is seen as one of the most equitable and sustainable ones in the world.
New Zealand has a universal pension entitlement at age 65- no means testing but any additional income is taxed via the progressive tax system.
A couple receive about $NZ900/week.
A single person over 65 gets about $NZ500/week.
Enough to live a modest comfortable life, as long as you own your home debt free.
We also have a voluntary employer subsidised retirement savings scheme called 'Kiwisaver'.
NZs universal entitlement retirement pension is seen as one of the most equitable and sustainable ones in the world.