6 Mar 2015

NZ women retire with less than men

2:28 pm on 6 March 2015

New Zealand women, on average, are likely to retire with about $60,000 less in savings than men.

That was the finding fom ANZ Bank.

Wealth products and marketing manager Ana-Marie Lockyer said women faced big challenges in planning for their retirement because they lived longer than men on average and retired earlier.

That means their retirement savings had to stretch further.

Ms Lockyer said after nearly eight years into the Kiwisaver scheme, the gap between average balances for women were nearly 28 percent lower than for men and the gap was widening.

She said there was little to suggest women would close this gap.