Bay of Plenty Times
  • Bay of Plenty Times home
  • Latest news
  • Business
  • Opinion
  • Lifestyle
  • Property
  • Sport
  • Video
  • Death notices
  • Classifieds

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • On The Up
  • Business
  • Opinion
  • Lifestyle
  • Property
    • All Property
    • Residential property listings
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
  • Sport

Locations

  • Coromandel & Hauraki
  • Katikati
  • Tauranga
  • Mount Maunganui
  • Pāpāmoa
  • Te Puke
  • Whakatāne
  • Rotorua

Media

  • Video
  • Photo galleries
  • Today's Paper - E-Editions
  • Photo sales
  • Classifieds

Weather

  • Thames
  • Tauranga
  • Whakatāne
  • Rotorua

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Bay of Plenty Times

Stress to increase for superannuitants

By Carly Gibbs
Bay of Plenty Times·
6 Jun, 2012 05:57 AM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Stress among Tauranga pensioners living off superannuation is at an all-time high, and experts warn it's only going to get worse as a silver tsunami hits.

As the population over 65 increases, and those earning wages and paying taxes decrease, the chunk of gross domestic product (GDP) being ploughed into Kiwi super payments is forecast to double in less than a generation.

Finance Minister Bill English is adamant raising the age of pension eligibility in New Zealand is not on the cards. But the money will have to come from somewhere.

Tauranga pensioners, who failed to save when they were working, warn that life on super is a daily battle.

Mount Maunganui pensioner Will Benson has no savings, assets, or family financial help. He has lived in a government Elder Housing Unit for 14 months and it has taken him that long to set up a small veggie and flower patch - unable to afford more than a punnet or two every few weeks.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

He said five or six dollars was a lot of money to a pensioner.

Mr Benson urged Tauranga's working force to start saving now. Having a nest egg would make life "tremendously easier".

Retirement Commissioner Diana Crossan said a survey done in 2009 showed 40 per cent of people in New Zealand were living on superannuation alone - that's $348.92 (net) a week.

Advertisement
Advertise with NZME.

Ms Crossan said New Zealand's super amount was not generous and was "very hard" for some.

Tauranga Hospital's Dr Fiona Miller, a consultant psychiatrist in mental health services for the elderly, said about a third of patients said they suffered financial stress. She thought the figure was likely to be higher, but few made complaints.

"The elderly now very quietly suffer rather than stand up - they just don't complain much. Future generations are generally better off throughout their lives so will struggle to adjust to lower living standards, whereas many current elderly are used to getting by."

Dr Miller said those with the least money suffered most in retirement. They faced social isolation with not being able to afford to get out of the house.

Health costs were deemed prohibitive, poor diet impacted on physical and mental health, and options were limited for residential care because they had no money for "top-ups".

She said any future rise in the pension age would require flexibility as physical and mental stamina meant a lot of people "are just trying to get to 65".

Budgeting expert Lyn Webster said it was her personal belief that the next generation would be poorer than this one, and Max Mason, CEO of Tauranga's Chamber of Commerce, said people must make an effort to save.

"To have no financial assets and only get government super, that in itself is not a lot of money to be frank. And it's probably going to be less as time goes on. So people should be doing the hard yards now," he said.

Save

    Share this article

Latest from Bay of Plenty Times

Bay of Plenty Times

'It was unreal': Orca pod amazes Tauranga jetskier near Whangamatā

08 Jul 04:03 AM
Bay of Plenty Times

BoP shooting happened at 'private dwelling', suspect still wanted

08 Jul 01:36 AM
Bay of Plenty Times

Boat in perilous position in Tauranga Harbour

08 Jul 01:04 AM

From early mornings to easy living

sponsored
Advertisement
Advertise with NZME.

Latest from Bay of Plenty Times

'It was unreal': Orca pod amazes Tauranga jetskier near Whangamatā

'It was unreal': Orca pod amazes Tauranga jetskier near Whangamatā

08 Jul 04:03 AM

The pod, including a large male, circled him and his group for about half an hour.

BoP shooting happened at 'private dwelling', suspect still wanted

BoP shooting happened at 'private dwelling', suspect still wanted

08 Jul 01:36 AM
Boat in perilous position in Tauranga Harbour

Boat in perilous position in Tauranga Harbour

08 Jul 01:04 AM
'Risk to the public': Police search for wanted man

'Risk to the public': Police search for wanted man

07 Jul 11:57 PM
Solar bat monitors uncover secrets of Auckland’s night sky
sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • Bay of Plenty Times e-edition
  • Manage your print subscription
  • Manage your digital subscription
  • Subscribe to Herald Premium
  • Subscribe to the Bay of Plenty Times
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • Bay of Plenty Times
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP