Lifting the age of eligibility for superannuation to 67 could save future taxpayers at least $100 billion by 2061, says a study made public today.
Consulting and investment services company Mercer says the double whammy of an ageing population and global financial crisis has highlighted the urgent need for the Government to address the adequacy of retirement savings, and reduce reliance on NZ Super.
Lifting the eligibility age to 67 and removing disincentives to taking up annuity products such as Kiwisaver are two solutions that could potentially address the problem, it says.
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