However, Pugh eventually succumbed to the lure of retirement, leaving the workforce early at 55 and looking forward to a break. The trend is hardly surprising as the cost of living is continually on the rise. Over the same period, the living costs of employee households rose 0.6 per cent, while self-funded retiree household expenses rose 0.5 per cent. "There's also the fact that retirees are living a lot longer and their superannuation savings don't always last. "I see a lot of people in retirement living frugally, instead of enjoying it.

Source: Stuff April 23, 2019 11:15 UTC