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KiwiSaver assets sitting at $58 billion

Author
Newstalk ZB,
Publish Date
Mon, 13 May 2019, 10:51AM

KiwiSaver assets sitting at $58 billion

Author
Newstalk ZB,
Publish Date
Mon, 13 May 2019, 10:51AM

Recent changes to KiwiSaver are already benefiting those in the scheme.

Latest figures show KiwiSaver assets have increased 16.5 percent over the past year to more $58 billion.

Financial Services Council Chief Executive, Richard Klipin, told Mike Hosking changes in contribution rates, new options for over 65’s and savings suspension have helped improve the scheme.

He says additional savings combined with a sustained period of market growth in New Zealand has lead to strong results.

The average balance for people using the scheme has grown to more than $19,000, Klipin said.

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