6 Oct 2008

KiwiSaver catching on, survey shows

11:19 am on 6 October 2008

The KiwiSaver retirement scheme has had a marked impact on the numbers of people saving for their later years, a survey has found.

AMP's Superwatch survey found that 65% were saving for retirement, compared with 48% a year earlier - prior to the launch of the Government's KiwiSaver scheme.

AMP spokesperson Leo Krippner says it was surprised how many decided not to join the scheme, given the level of incentives offered by the Government.