Kiwis may be saving too much, says Treasury

But studies - including a Treasury report - have suggested some New Zealanders are saving enough - and in some cases too much - for retirement.

"If that is the case, there is zero ground for even thinking about the idea of a workplace savings scheme," savings expert Michael Littlewood says.

A New Zealand Institute report in February said the median household wealth was just $68,300, but 800,000 adults own less than $20,000.

It suggested a $4 billion government savings plan for everyone automatically at birth, but that was rejected by Finance Minister Michael Cullen last month.

A Treasury report by Grant Scobie and others has said, however, that there is "no evidence of widespread undersaving".

Many poorer pensioners lived on NZ Superannuation and little else, but often that was little different from their income while they were working.

Most richer people did save, according to the Treasury report, and, with their state pension as well, ended up better off in retirement than when they worked.

Read More - Opens in a new window