Retirement Savings Confidence Barometer: May - June 2013

Released 12 August 2013

Key figures:

  • 64% of those saving know how much they have in their KiwiSaver account, 36% do not know their current KiwiSaver balance.
  • Confidence is higher among those how know their KiwiSaver balance - with 52% of these feeling they will achieve their goals; compared to 41% feeling confident of those who do not know their KiwiSaver balance.
  • Overall confidence is unchanged with 48% confident of reaching their goals, among those who are saving, planning to save or expecting to have an additional income in retirement.
  • 26% of those who plan to have a retirement income on top of NZ Super chose $500 or more as their additional weekly income, down from 43% in previous survey.
  • 53% chose up to $300 a week for their preferred additional retirement income, up from 36% last survey.
  • 64% of those surveyed are saving for retirement.
  • 34% of those surveyed are not currently in a savings scheme.
  • 28% (just over a quarter) of those not saving expect their retirement income to come from other sources like selling their business, an investment property or an inheritance. More than half of those not saving plan to save in the future.
  • 6% of all respondents said they intend to live solely on NZ Superannuation in retirement.

 Download the full media release.

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