PHOTO:SUPPLIED Retirement Commissioner Jane Wrightson took up the role just before the full financial impact of Covid-19 was felt.
The majority of households are in personal financial crisis, or are close to falling into it, an international survey including 3000 New Zealanders showed.
Already one in 10 Kiwi households had missed a mortgage or rent payment as a result of the Covid-19 economic crisis, the research from the taxpayer-funded Commission for Financial Capability indicated.
The impacts of the shuttered economy in March and April fell hardest on young families, Māori, Pacifica and people working on already insecure contracts.
Those with capital in debt-free homes and savings and investments, were least impacted, and least likely to be among the 34 per cent who were already experiencing financial difficulties, or the 40 per cent teetering on the brink of doing so.
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