Young New Zealanders are relying more and more on KiwiSaver to be their main source of income during retirement
Young New Zealanders are relying more and more on KiwiSaver to be their main source of income during retirement
30 June 2018
That's according to a survey by the Financial Services Council.
Only half of participants aged between 18 and 34 expect to buy a house in their lifetime and only 30 percent plan to have a superannuation account.
CEO Richard Klipin says many young people are supportive of making contributions to KiwiSaver mandatory.
He says the scheme needs to be strengthened because it's becoming a vital security blanket for many during retirement.
© 2024 Newstalk ZB, NZCity