The pope's pension is almost identical to the maximum Social Security benefit a U.S. retiree could earn if they retired this year.

To receive a check that size in the USA, a retiree would need to retire at age 70 or later, and have earned earned the taxable maximum salary throughout her career—the equivalent of US$113,700 this year.

The monthly New Zealand universal superannuation payment for a single person is equivalently €950 per month. All pensioners also receive the Super Gold Card. Some receive housing, living and assisted living costs.

On retirement, Benedict will take with him only personal effects and gifts, his piano, his cats and private letters. Everything else - including books, furniture, and documents - will remain in the Apostolic Palace in the Vatican.

For over 60 years Benedict has effectively worked for the Church, the last eight as it's global CEO. Most of Benedict's personal expenses, including accommodation, food and gardening, will be covered by the Vatican for the rest of his life.

Sources

• Market Watch
• The Independent
• NZ Work and Income

The net wealth of the 55+ in New Zealand has risen from 43% ($176 billion) of the population's total net wealth in 2002, to 52% ($492 billion) in 2011.

The rise in wealth of the 55+ age group is only partly due to this group's increasing proportion of the population. Since 2002 the 55+ age group has risen only from 19.5% to 24.7% of the population.

Commentator Bernard Hickey says "The unlucky ones were those that took on massive debts in the last five years to buy houses at the newly inflated prices. They were mostly below 40."

"This structural shift in wealth to the aged and a loading up of debt on the young is obviously not sustainable, particularly when combined with the current promises of universal superannuation from 65 and publicly funded healthcare," he says.

"With the current policies, New Zealand faces the bizarre prospect of either higher income tax rates on the increasingly indebted young to pay for pensions and "free" healthcare for the increasingly wealthy old, or huge amounts of government borrowing, which would of course have to eventually be repaid by the young."

The Roy Morgan Report is based on data from a nationwide survey of approximately 12,000 New Zealanders in the 12 months to December 2011, but also includes trended data stretching back over the past decade.

Sources

• The New Zealand Herald
• RoyMorgan.com
• Image: FitnessZone