A new OECD report suggests the Kiwi pension is the sixth worst in the world, with retirees getting just 43 percent of the average working wage. (Photo \ Getty Images)

Claim NZ has 'one of the worst' pensions is being rejected

Author: Newstalk ZB,
Publish Date: Thu, 5 Apr 2018, 6:38AM

A claim that New Zealand has one of the least generous pensions is being rejected.

A new OECD report suggests the Kiwi pension is the sixth worst in the world, with retirees getting just 43 percent of the average working wage.

Michael Littlewood help set up the Auckland University Retirement Policy and Research Centre.

He told Kate Hawkesby the report is basically useless.

"This is probably one of the most useless pieces of research that is done on an annual basis. The general conclusion is that we have one of the best overall retirement arrangements in the world."

He says the number of New Zealand retirees living in poverty, compared to other countries, is low.

"The most recent comparative research that has been done on poverty rates amongst the old suggests that New Zealand has one of the best pensions in the world."

LISTEN ABOVE AS MICHAEL LITTLEWOOD SPEAKS WITH KATE HAWKESBY