Over 1,000 New Zealanders Working Into Their 90s

There are 200,000 New Zealanders past retirement age still in the workforce, and a third say they’re forced to do so for financial reasons.

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In the December 2024 quarter, New Zealand had 2.916 million people in employment of which 7.36 percent were over the official retirement age of 65.

Statistics New Zealand (Stats NZ) reports there are 215,700 New Zealanders who could be retired but are still turning up to work—a third of them are doing so because they have no choice thanks to financial pressures. Around 90,000 are aged over 70.

Universal superannuation pays a single person 65 and over $1,038.94 (US$595) a fortnight, and those living with a partner $799.18 per fortnight per person, but those rates are before tax.

With the average rent for a one-bedroom apartment at $1,000 a fortnight—more in cities such as Auckland and Wellington—any superannuitant without additional income from a private pension or investments, or living in a mortgage-free home, would find it impossible to afford accommodation, let alone other expenses.

And not all are doing work suited to most people that age. Over 65s make up 10.3 percent of machinery operators and drivers and 8 percent of labourers, along with 7 percent of professionals and 9.1 percent of managers.

By the time people got to 80, the largest proportion—0.7 percent—were managers.

And an intrepid 1,257 people aged 90 and over reported they were still working.

Seniors Find the Job Market Particularly Tough

The Office for Seniors Older Workers Action Plan said a third of the New Zealand workforce was aged over 50, and half of all people aged 60 to 69 were employed.

However, it noted that older employees face challenges finding and staying in paid work.

Research by the Retirement Commission found a third of people over 65 were working in order to pay the bills.

“For an increasing number of people who do not own their own home or do not have significant retirement savings, continuing to work in some capacity past the age of 65 is a necessity,” it said.

The population of people aged 65 and over doubled between 1991 and 2020, reaching 790,000. This is projected to double again by 2056.

The most significant growth is occurring between 2011 and 2038 as “baby boomers” move into that age group.

For those who need to work, a shrinking number of jobs, barriers due to age, and greater competition point to a grim future.

The sustainability of superannuation is also in doubt, though few politicians are brave enough to start a discussion on the issue, much less propose any changes to the system.

In 2010, there were just over five working people for every retiree, but by 2060 this is predicted to be just over two. This has significant impacts on tax revenue, which supports social spending.