Some of those contributions will have been made by members who might be studying or are at home, but still want to contribute to their retirement savings.
As well as contributions it’s also important for investors to think about what sort of fund they are in.
Of the ANZ KiwiSaver members aged 18 – 25, 78 per cent are in a growth fund.
Growth funds invest mainly in assets like shares and property, which can have a higher level of risk. That means they’re more likely to fluctuate in value in the short term. However, they typically deliver higher returns over the long term.
To help connect with younger investors ANZ Investments is launching a series of social media videos, discussing basic investment topics.
Social media platforms like TikTok and Instagram are where many get their information and we’re aiming to give them simple and useable information in ways which best suit them.
The findings of the survey by Horizon Research are based on an online survey of 1,632 respondents, representing the New Zealand population, aged 18 years and older. There is a margin of error on the overall sample of plus or minus 2.4 per cent.