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Kiwis not confident of reaching retirement savings goals

Media Release

15 August 2012


56 percent of Kiwis not confident of reaching retirement savings goals

Confidence level drops 5 percentage points from April according to ANZ Retirement Savings Confidence Barometer

Fifty-six percent of New Zealanders who are saving toward their retirement are not confident they will reach their savings goal, representing a 5 percent fall in confidence since April, according to the ANZ Retirement Savings Confidence Barometer, released today.

“The deepening debt crisis in Europe and prolonged patchy growth in the New Zealand economy have probably contributed to the drop in confidence,” says John Body, Managing Director ANZ Wealth and Private Banking.

“While the survey found that almost two-thirds of New Zealanders are saving in some form, this drop of confidence is still surprising.”

19% 12%
Confident 29% 35% 23%
Not very confident 37% 32% 42%
Not at all confident 19% 14% 23%

ends

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