In 2000 it was 61 compared with 67 in 2020.
A study by AgeCalculator.com using the Organisation for Economic Development and Co-operation (OECD) data showed New Zealand had the fourth-largest increase in that average retirement age during the period at 9.84%.
It was the only non-European country to feature in the top ten countries with the highest retirement age increase.
Bulgaria took the top spot, with a 13.26% increase, followed by Estonia (11.93%) and Latvia (10.57%).
New Zealand’s average retirement age of 67, however, was higher than the other top 10 countries where the age ranged from 60 to 65 years.
The Retirement Commission says the study reflects a positive change to retirement policies in the last 24 years.
Unlike some other countries, we do not have a mandatory retirement age, and because our national superannuation scheme is not means tested, there is no disincentive to working beyond 65.
There are many benefits to people continuing in the workplace if they are physically and mentally up to the job, and enjoying their work and the social contact many jobs provide.
While they may be able to mentor younger workers, they can also learn new skills from their young workmates.
Employers allowing older workers flexible or reduced hours to fit in with family commitments allows them to continue longer, and presumably in a less stressed state than they might if a rigid approach is taken.
Workers aged 50 and older make up a third of the workforce and, due to our ageing population, are the fastest growing demographic among workers.
To stave off future labour shortages, businesses will need to keep older workers and retrain them as workforce changes occur.
This was recognised by the previous government which launched an Older Workers Employment Action Plan in 2022 as part of its employment strategy, although regular public reporting on its progress seems to have petered out in July last year.
An older workers toolkit is available online for businesses to help them hire, develop and retain mature workers.
Among other things, it challenges belief in stereotypes, pointing out people of any age can be open to new experiences and challenges, just as people of any age can be reluctant to change.
So far, so positive. But let’s not pretend all over-65s who are working are doing so because they want to.
There will be those workers who might desperately want to retire, but who cannot afford to. (The median weekly income last year for over-65s was $475 compared with $921 for all age groups.)
Among them will be those still struggling to pay off mortgages or cope with high rental costs.
While the stereotype of baby boomers is that they are all homeowners without debt, the number of over-65s with mortgages rose from 118,000 in 2018 to 134,000 in 2022.
That’s about 16% of the total number of over-65s, according to "As safe as Houses", a report on mortgage debt and financial stress in older persons prepared by the New Zealand Institute of Economic Research for the Office of Seniors.
The value of that debt was estimated at $23.4 billion.
There will also be those who feel obliged to continue in their jobs because there is no-one to take their place, including health professionals in a variety of roles.
Such situations should not be ignored by any politicians tempted to simplistically use the bare figures in the retirement age study to fuel their arguments for increasing the eligibility age for superannuation.
