A cluster of ‘modest’ accounts: what KiwiSaver balances really look like
In what’s believed to be an industry first, the NZ Society of Actuaries has produced a report that analyses account-level data for a large segment of the KiwiSaver market.
Until now, nothing been published about the actual balances of KiwiSaver’s 3.09 million members, with most statistics focusing on averages. For example, the FMA’s annual KiwiSaver report for 2021 says the average balance across all funds is $26,410. Previous surveys of KiwiSaver accounts have been limited to average balances, total fund size and total contributions.
But averages...MORE»
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