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Fluctuating picture on long-term savings

Results from AMP's latest SuperWatch survey present some changing attitudes.

Friday, July 12th 2002, 7:29AM

Which one of the following are you currently saving for?

July 2000

(%)

August 2001

(%)

Feb 2002

(%)

June 2002

(%)

Paying off your house

41

38

40

39

A new car

13

11

12

11

Travel or holidays

40

36

38

38

Superannuation/retirement

49

46

42

50

Setting up or investing in your own business

13

12

10

10

Your own or your children’s education

32

27

27

26

Deposit for a home purchase

14

13

13

12

None

12

15

17

13

Don’t know

-

1

-

1

All Respondents

(524)

(502)

(501)

(554)

 

Which of these are you currently doing to save for your retirement?

 

July 2000

(%)

August 2001

(%)

Feb 2002

(%)

June 2002

(%)

Paying off a mortgage on your home

44

37

42

39

Have a formal, long term superannuation plan

46

40

38

44

Bank or term deposit investments

32

28

29

29

Investing in shares

31

27

23

26

Unit trust investments

17

19

15

17

Investing in your own business

16

17

14

16

Residential property other than your own home

17

19

15

19

None

18

23

22

20

All Respondents

(524)

(502)

(501)

(554)

 

New Zealand Superannuation, that is the pension that is paid by the government in retirement, is currently $208 per week for a single person or $347 per week for a married couple after tax at the basic rate.

If you were retiring today, would this be adequate to support you in your retirement?

 

July 2000

(%)

August 2001

(%)

Feb 2002

(%)

June 2002

(%)

Yes

16

21

20

19

No

82

75

77

78

Don’t know/ no answer

2

4

3

4

All Respondents

(524)

(502)

(501)

(554)

 

Do you expect to use the profit from the sale of your family home to help fund your retirement?

 

July 2000

(%)

August 2001

(%)

Feb

2002

(%)

June 2002

(%)

Yes

80

77

na

81

No

19

19

na

17

Don’t know

1

4

na

1

Make a profit from selling family home

(218)

(183)

(-)

(236)

 

Which of the following do you feel should take some responsibility to provide for you in your retirement?

 

July 2000

(%)

August 2001

(%)

Feb

2002

(%)

June 2002

(%)

The government

55

68

73

65

Yourself

92

91

94

93

Your Family

6

15

12

14

The Community

3

8

7

6

Your Employer

17

22

31

26

None

-

-

-

-

Don’t know/no answer

1

1

1

1

All Respondents

(524)

(502)

(501)

(554)

 

 

And which of these should take the greatest responsibility?

 

July 2000

(%)

August 2001

(%)

Feb

2002

(%)

June 2002

(%)

The government

20

23

27

23

Yourself

74

70

67

70

Your Family

-

1

-

1

The Community

-

-

-

-

Your Employer

1

1

2

2

None

1

1

1

-

Don’t know/no answer

4

4

4

3

All Respondents

(524)

(502)

(501)

(554)

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BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
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BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 ▼6.79 ▼6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 ▼7.29 ▼7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
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Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 ▼6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 ▼7.39 ▼7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
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SBS FirstHome Combo - - - -
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TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 ▼6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 14 March 2024 9:32am

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