Knowledge still lacking on KiwiSaver

The latest ASB KiwiSaver survey shows that 63% of respondents said they needed to save more for retirement and 18% were unsure.

But many did not know what was an appropriate amount to be aiming for.

A full 17% of respondents were unsure how much saving would be required each year in retirement.

A fifth thought the amount required per year was less than $30,000 while another 31% thought a figure between $30,000 and $50,000 each year would be needed. A remaining quarter thought that more than $50,000 per year would be required per year of retirement.