Cost of living threatening retirees' financial future

Concerns the high cost of day-to-day living is seeing people taking an eye off their financial future, threatening the ability to afford to retire. This week we saw a thirty-two year inflation high, increasing 7.3 percent since the June 2021 quarter. The Retirement Commission has been gathering insights into the cost of living's impact on long term savings, finding a steady decrease in people actively saving for retirement, from 52% in 2021 to 47% in 2022. 93% of Kiwis' rank 'cost of living' as their biggest concern.