What do you do with the money, the lump sum received from your savings with Kiwi Saver? Diana Clement provides advice.
http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11646251
Posted by Alec Waugh. Source Weekend Herald May 28, 2016
New Zealand is seriously lacking a state backed annuity. The RPRC comment on this lack and how it might be remedied here: KiwiSpend-how to spend like a Kiwi http://www.business.auckland.ac.nz/en/about/our-research/bs-research-institutes-and-centres/retirement-policy-and-research-centre-rprc/publications-28/pensioncommentary-articles.html
If nothing is done the future for the long lived middle income NZer looks grim