30 Sep 2010

New Zealanders still saving, survey shows

7:06 am on 30 September 2010

New Zealanders are continuing to save, despite the recession, but appear to be losing confidence in property and shares.

An AMP Superwatch survey of 500 people found 66% are saving for their retirement, compared to 52% five years ago.

Marketing and distribution general manager Blair Vernon attributes the shift to the increasing popularity of KiwiSaver.

The number of people saving for holidays, emergencies or education has also climbed, with 71% of people now saving for something, compared to 64% five years ago.

Mr Vernon says confidence in traditional forms of saving, like property and equities, has been dented, but that's to be expected after such a volatile period.