Lanolin,
This kiwisaver is kind of like our Social Security (kind of, but not really). We can apply for these benefits at age 62; however, full retirement depends on when you were born. For me, it's 66 years and 10 months. Also, if you wait until you are 70, the amount you get back greatly increases. For us, this is a supplemental to our retirement and hopefully people have also invested in a work base retirement plan or a private plan. Few people, that rely only on Social Security, can make it on their own. The amount you end up getting depended on many variables, to include the age you start collecting and the average yearly salary you had over the many years that you have worked. The max you can get, at 70, is $3,770. If you retire right at the retirement age (66), the max is $2,861 (4038.02 NZD).
Here, in the Kingdom of the United States, about 15.6% of people are 65 or older. This is expected to increase greatly. Of this population, about 20% work past 65 (10.5 million). I am actually a bit surprised it's only 20%. I guess this all depends on what you do and your health. For me, work is not actually work, as I really enjoy what I do. It is not physically demanding (no heavy lifting) and I consider it more "run" than "work."
The decision on where to retire, again, here in the Kingdom, depends on many variables. While the wife and I live in Miami, FL, we are NOT going to retire here. My wife has a large family that lives in Memphis, TN. Three of our five kids like in Missouri (which is right next door). We will be relocating to Memphis (Good Lord willing) for several reasons: The state does not tax military retirement, the cost of living is really low, we have family there (mostly the wife's) and the medium income is much lower than it is here. Also, I am 7 years older than the wife, so we will move to Memphis when I retire, but she will just relocate and be a teacher there. Even when I do "officially" retire, do not plan on actually retiring. Again, good Lord willing, I will probably teach as an adjunct or do some "side job" as a consultant. The bottom line is that it is all up to God and I just get to go along.
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