NZers admit they should be saving more

Almost half of New Zealanders responding to the latest ASB KiwiSaver Survey thought they should be saving more than 10% of their income to fund their retirements but only 22% were doing so.

ASB head of KiwiSaver Aidan Vince said: “We have regularly asked if people are saving enough, and this survey as well as earlier findings show the majority of people don’t think they are on track.

"In the latest survey we asked some more specific questions in order to understand how people come up with their savings goals, and identify areas where people need some help.”

The survey showed although just 22% of people were saving more than 10% of their income, 46% thought they should be saving this much.