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Pension: Lotto for retirees

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OPINION: Every Kiwi couple has a million-dollar gift waiting for them, but most of us are totally unaware of its high value.

To get our hands on it, all we have to do is turn 65 and last the distance in terms of life expectancy.

Yet we forget to be grateful for this gift. We forget to thank our children (the taxpayer) and we forget to thank our elected MPs for the generous country we live in and the legislation that creates it.

We are talking about the gift of superannuation. That squidly-diddly amount of $633 a week. An amount many belch and moan about. It's roughly $33,000 a year for a household of two retirees.

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Ever stopped to think about how much it's worth? Or how much you'd need to save yourself to replicate it? Many retirees trot out that well-worn yawn of having paid taxes all their life and they've earned it.

The financially transmitted disease of entitlement sets in. Most........

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