Most believe superannuation insufficient

Only nine percent of people believe that New Zealand superannuation alone will provide them with adequate retirement income.

The survey by Horizon Research survey was released by the Financial Services Council which has a vested interest in people investing more.

But the results aren’t surprising, you’d have a very modest lifestyle if you thought $349 per week for an individual and $537 per week for a couple was anything more than barely adequate.

It was never designed to provide more than that and it is good that people realise they will have to make some provision for retirement income to top up the universal super.

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