More people keep working after "retirement" age

More people keep working after

by Stuff, 11 Feb 2014

The traditional retirement party at 65 is a relic, as more than two in five pensioners under 70 are still working.

Census data shows 40 per cent of 65 to 69-year-olds and 21 per cent of 70 to 74-year-olds remained in fulltime or part-tme employment in 2013. The numbers have jumped significantly from the previous census in 2006.

Even before the recent jump, New Zealand had one of the highest employment rates of 65 to 69-year-olds in the OECD.

Labour finance spokesman David Parker said more Kiwis voluntarily working past the age of NZ Super eligibility "compelling" demonstrated the time had come to raise the age eligibility...

Senior Citizens Minister Jo Goodhew said it was important to allow over 65s to choose whether to retire or continue working.

Grey Power president Roy Reid said his organisation could support Labour's move, providing there was a safety net for older workers in physical professions, "There are people who even struggle to work at 60, let alone 65."

Mr Reid sad there were several factors in the choice to keep working.

"The first one is definitely financial. Secondly, there are people who reach the age of 65 and are fit and well and quite capable of work and do choose to carry on. A lot of them go part-time, maybe four days' a week."

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