An increasing number of people are dipping into their retirement savings to meet soaring living costs.

KiwiSaver members made 18,291 withdrawals worth an average of $7921 over the year, according to new data.

NZ Herald Wellington business editor Jenee Tibshraeny explains why this is happening.

LISTEN ABOVE

An increasing number of people are dipping into their retirement savings to meet soaring living costs.
KiwiSaver members made 18,291 withdrawals worth an average of $7921 over the year, according to new data.
NZ Herald Wellington business editor Jenee Tibshraeny explains why this is happening.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.