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Survey reveals half of retirees scraping by

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Survey reveals half of retirees scraping by

By: Kaye Albyt | New Zealand News | Thursday August 16 2012 14:08

 

The latest retirement survey is being described as a wake-up call.

The Retirement Expenditure Guidelines report shows 47 percent of retirees are just scraping by.

It shows that a two-person household in Auckland or Wellington needs $241 a week for a no-frills retirement and $761 for a few luxuries.

Housing costs such as rent are not included.

David Ireland from Workplace Savings says the data is sobering but will help people to properly plan for their retirement.

 

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