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Clive Fernandes: National Capital Director and KiwiSaver expert on what the contribution rate should be
A new report reveals that the majority of New Zealand employers are contributing the minimum 3% towards their employees Kiwi Saver.
The latest Value for Money Report by KiwiSaver watchdog, National Capital, shows the average contribution rate for all New Zealanders is 4.3%.
Director and KiwiSaver expert Clive Fernandes told Kate Hawkesby that based on the average contribution rate, retirement expenses, and inflation the contribution rate average should be 6.3% .
He says the extra money saved now will take a lot more pressure off when it comes to retirement.
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