Retirement woes: More Bay of Plenty retirees paying off mortgages, debt and living with kids

Retirement woes: More Bay of Plenty retirees paying off mortgages, debt and living with kids
11 Dec, 2020 09:00 PM
5 minutes to read
Mortgages, rent and living with extended families are just some issues many retirees are facing. Photo / Getty Images
Many Bay of Plenty retirees are still paying off their mortgage or high rents and debt while living with adult children and grandchildren.
Social and budget agencies say it has become the new norm for
some elderly and housing is the biggest issue they face.
Figures from New Zealand credit agency Centrix shows nearly one in five superannuitants are managing a mortgage into retirement, averaging $155,555 each.

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