Young New Zealanders saving for retirement

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 saving for their retirement. And 82% of those not already saving for their retirement indicated 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. “Official records show that more than 2 million people are now in a KiwiSaver scheme, which is a fantastic result. We know retirement seems a long way off for young people, but clearly many young people have got the message that they should start saving early.”