How do New Zealanders see their retirement future?

How do New Zealanders view their financial situation - and how optimistic are they?

This survey of 15,519 adult New Zealanders was carried out from 2018 -2019 by the CCFC (Commission for Financial Capability - which was the Retirement Commissioner).  The Key Findings are:

1. Most people do not plan financially for retirement
2. People expect NZ Super and KiwiSaver to be the basis of their retirement income
3. KiwiSaver enrolment is high for the employed but many have limited knowledge about KiwiSaver
4. Only 29% of respondents could access 3 months work of cash in an emergency (this is a cornerstone of good financial planning, having enough emergency cash on hand at all times.  The amount will vary between people).
5. Consumer debt is common and not limited to those on low incomes.
6. Financial stress among mortgage holders is closer to that of renters than freehold property owners.
7. Subjective financial wellbeing (how good people feel about their financial situation) is linked to home ownership, higher household income and being able to access health services.  However, even with high income earners, some people still pay interest on credit card debt and don't access health services because of the money concerns.
8. Better financial outcomes and more financially capable behaviours are linked to Age (being older), higher income and home ownership. BUT having long term goals, optimism about the future, consumer debt and the propensity to spend money make a difference to outcomes.

The information that we found most interesting was this table.  If you would like to have more confidence in your ability to have a financially comfortable retirement - get in touch with us at Moneyworks (the earlier in your life the better as we can work with you to plan it all out) - at contact@moneyworks.co.nz.

I am confident I will be able to have a
financially comfortable retirement
Completely disagree 110%
10 - Completely agree7%


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