More New Zealanders expect to have to keep working to fund their retirement as higher mortgage rates and the rising cost of living ramp up financial pressure on seniors.Research from New Zealand Seniors found many people over 50 struggled to afford necessities and one in three working seniors were delaying full retirement due to higher living costs and interest rates.
Not even homeowners were immune to retirement worries, with 78% of those surveyed saying they were concerned about retiring with mortgage debt, the Working Seniors report said.The findings reflect those of Te Ara Ahunga Ora Retirement Commission, which said many people were working longer because they had not been able to save enough or did not own a home outright.
