12 Aug 2013

Third of KiwiSaver members unaware of account size - survey

12:22 pm on 12 August 2013

A new survey shows a third of KiwiSaver members are unaware of how much they have in their retirement savings account.

ANZ's latest retirement savings confidence barometer also shows that people are more confident of reaching their savings goals if they know what the balance is in their KiwiSaver account.

Confidence among this group is 52%, significantly higher than those who do not know how much they have saved at 41%.

The survey also shows people have reduced their expectations about how much they want to live on in retirement - only 26 per cent chose $500 per week, down from 43% in the last survey.