KiwiSaver gender gap widens

Ana-Marie Lockyer said there were big challenges for women planning their retirements.

“Women are coming from behind in saving for their retirement,” Lockyer said. “On average, women live longer and retire earlier, meaning their retirement savings need to stretch further.”

She said that nearly eight years into KiwiSaver, average balances for women members of the ANZ KiwiSaver Scheme were almost 28% lower than men at $8918 and $11,396, respectively.

She said the gap was getting bigger – a year ago it was a 26.5% difference.