Kiwis, depending on their age group, generally want compulsory KiwiSaver
When Auckland financial advice firm National Capital canvassed New Zealanders on whether they felt KiwiSaver contributions should be compulsory, nearly two thirds, 62%, of the 672 respondents said, yes.
Those closer to retirement age were the most likely to answer yes, with 79% aged 65 and over and 71% aged 60-64 in agreement. At the other end of the demographic scale, 68% of Gen Z aged 18 to 27, also agreed.
Millennials or 28-43 year olds were the exception, with only 48% supporting compulsory contributions. Reasons given were maintaining personal choice and autonomy, and affordability/cost of living pressures, and opposing mandatory participation in the scheme.
The survey also found most respondents (74%) plan to use their KiwiSaver for either living expenses in retirement or paying off their mortgage.
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