Latest figures published today show that KiwiSaver assets have grown to nearly $58.53bn. Over the last quarter (to the end of March 2019), the KiwiSaver pool has grown $1.26bn, 16.5% over the past year.
“The growth of the KiwiSaver pie is very encouraging news for New Zealanders, as it helps create long-term wealth for the 2.85 million Kiwis that are in the system,” says Richard Klipin, Chief Executive Officer of the Financial Services Council (FSC).
Klipin continued, “Recent changes introduced by the government, including the changes in contribution rates, new options for over 65’s and savings suspension are all contributing to improving the scheme.”
“The figures show average individual KiwiSaver balances growing to just under $19,250, up around $500 over the quarter. These additional savings combined with a sustained period of market growth in New Zealand means now is the time for Kiwis to save for their future."
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