Everyone saving and investing

Getting people actively engaged with their personal finances and saving/investing in the short, medium and long term

Specifically

  • More people save and invest for the short, medium and long term

  • More people actively engage with and contribute to KiwiSaver

  • More people save and invest in a range of assets

Benefits

  • Individual and household net worth increases and unproductive debt decreases

  • People’s financial resilience and ability to reach goals in a downturn increases

  • People reap the rewards of compounding interest over time

  • The economy benefits from more diversified investment

  • Potential for deeper capital markets

Challenges

  • Low awareness of the gap between people’s desired and expected retirement income and what can be done to fill it

  • Disengaged KiwiSaver members may not be contributing enough, or not be in the optimal type of fund for them

  • Continued reliance on property as a savings vehicle

  • In some instances, household outgoings exceed income
"Disengaged KiwiSaver members may not be contributing enough, or not be in the optimal type of fund for them"

Actions

Conduct campaigns to drive more saving and investing

Run investor education programmes

Promote key investing principles via workplace financial education programmes

Conduct campaigns to encourage KiwiSaver members to actively engage with and contribute to KiwiSaver

Promote community saving and investment schemes among Māori

Goals 2025

90% of people put money into short, medium and long-term savings and investments (up from 74%, FBI)

80% of investors invest in assets in addition to KiwiSaver (up from 66%, FBI)

100% of current and potential investors understand key investment principles (benchmark to be finalised, FKBS)

90% of KiwiSaver members qualify for the member tax credit (IR KiwiSaver Evaluation)

90% of the largest iwi offer savings schemes (like that offered by Ngai Tahu through the Whai Rawa scheme)

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