Nearly Three Quarters Have Not Considered Retirement Savings

Nearly Three Quarters Of New Zealanders Have Not Considered Their Retirement Savings Goal

People who have thought about their retirement savings target are the most confident of achieving the retirement lifestyle they want, according to ANZ’s latest Retirement Savings Confidence Barometer released today.

The quarterly survey asked 825 people if they are saving for retirement, how much weekly income they would like in addition to New Zealand Superannuation when they retire, and how confident they are about reaching the lump sum they need to achieve their savings goal.

“Only 29 per cent of respondents had looked into their savings goals before taking part in our survey. Of these people who have previously considered their target, 65 per cent were confident,” said John Body, Managing Director ANZ Wealth and Private Banking, New Zealand.

Among those who have never previously considered the figure they are saving towards only 40 per cent said they were confident of reaching their goals.

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Read the full release here:ANZ_Retirement_Savings_Confidence_Barometer_FinalNov12.pdf

ENDS

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