Over 50% of Kiwis are in the wrong KiwiSaver fund

8 October 2019

Scoop covers the launch of kōura and highlights how over 50% of Kiwis are in the wrong type of KiwiSaver fund.

As of today, New Zealanders can now access personalised and professional Kiwisaver advice, thanks to kōura – a new, next-generation KiwiSaver scheme.

kōura offers a digital advice platform that will give all hard-working New Zealanders access to personalised and professional financial advice – something most people perceive to be out of reach – and something that a new KiwiSaver survey shows is desperately needed. kōura offers a simple tool that allows New Zealanders to analyse their KiwiSaver and ensure they are making the right investment decisions for the retirement they desire.

kōura brings to NZ an offering that is already extremely popular in the US – consumer-focused, digital financial advice.

To mark its launch, kōura surveyed New Zealanders about their Kiwisaver behaviours, and uncovered some alarming results:

  • 53% of Kiwis are in the wrong KiwiSaver fund, which could result in people missing out on hundreds of thousands of dollars when they hit 65
  • Only 23% of New Zealanders claiming to have a good understanding of the product
  • 69% of Kiwis see KiwiSaver as being extremely important for their retirement, yet the average Kiwi will have less than 50% of their current income when they move into retirement

Read the full article here 



 

The kōura difference
Does KiwiSaver make your brain hurt? At kōura we keep things simple. We ask you a simple set of questions to understand your goals and assess you risk appetite and then generate a portfolio that's entirely personalised for you. Our calculators allow you to see just how much you will have in your KiwiSaver based on what you're saving now and will even give you a weekly retirement income prediction.  This enables you to get a realistic picture of much you can rely of your KiwiSaver for your retirement and what levers you can pull to give you the retirement you want. Give kōura a try now and see what your retirement will look like.

Generate my kōura Portfolio


Found this article useful? Got some feedback? Drop us a comment below - we'd love to hear from you!


More News & Insights

03/03/2020

KiwiSaver is Broken?

When introduced, KiwiSaver was supposed to be a  breakthrough for the everyday Kiwi

18/10/2019

Young New Zealanders are missing out on billions

The Spinoff talks to Rupert Carlyon and finds out how young kiwis are missing out on billions in their KiwiSaver

Subscribe Today.

Investing articles and news straight to your inbox.