More young people save for retirement

Last updated 10:34 02/07/2014

Relevant offers


Some broadband users can be in for a nasty surprise when they move house Southern Cross pays out more than $3m in pet insurance claims Improved housing affordability won't last, researcher says House price rise prompts interest in coastal property Semble 'tap and go' payment app off to a slow start Southern Cross Travel Insurance calls foul on 'illusory' benefits A third of Kiwis will have a mortgage at 65 Parents waiting longer for an empty nest Disputes Tribunal finds Spark 'arguably' doubling up on fees One-year anniversary of NZ low-interest loan scheme funded by BNZ

More than half of Kiwi workers aged between 15 and 24 are already saving for their retirement, with most of those not saving planning to do so in the future.

The latest ANZ Retirement Savings Barometer surveyed 850 New Zealanders in April and May and found that more young people are thinking about saving for their retirement.

Fifty-five per cent of young people indicated they were already saving for their retirement, and 82 per cent of young people not already saving for their retirement indicated that they planned to save in the future.

ANZ wealth managing director John Body said it was great to see so many young people planning for their retirement.

"With KiwiSaver, the earlier you start saving the better off you will be," he said.

However, the ANZ survey found that only 31 per cent of young people were confident of saving enough money to provide the weekly income they required when they retired.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content