The Retirement Commissioner has dumped long-standing advice about the amount of income individuals need to meet the cost of retirement.
Dianna Crossan says the OECD-backed benchmark of 70% of a person's working income isn't as relevant as it once was, and it has now been removed from her organisation's website.
She said the figure doesn't mean anything now that people's income changes throughout their lives, rather than having careers that last 40 years.
Ms Crossan says most people don't know how much they need to enjoy a comfortable retirement.
She backed Tuesday's launch of a study of 300 New Zealanders' retirement living costs as one way of getting more infomation to people.
Backed by Westpac and Massey University, the study will look at the cost of different standards of retirement accross different parts of the country.
It will be updated every six months, with in-depth information published every three years.
