A recent survey of savings intentions shows a trend for New Zealanders to reduce their level of savings, while at the same time exhibiting an increasing desire for the Government to introduce some form of compulsory savings scheme.
In the SaverPulse survey the proportion of people who are saving for their retirement has fallen from 58 per cent to 54 per cent. Against this people are increasing acknowledging the Government isn't likely to provide an adequate retirement income.
It also shows that the call for a compulsory savings scheme is consistent and growing. Over the past quarter the percentage wanting such a scheme has risen from 57 per cent to 61. A year ago only 53 per cent of the survey's respondents favoured some form of compulsory savings scheme to ensure that people provided for themselves in retirement.
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