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KiwiSaver: The Inevitable Comparison With Australia

Hat tip to Rob Dowler for referring me to this article. The article starts by simply comparing average account balances in KiwiSaver vs average balances in the Australian compulsory retirement savings scheme, noting nine times more in the Australian scheme balances. However, comparing wealth, not just superannuation balances, at retirement produced some interesting numbers. Yes, NZ males were still behind their AU counterparts, but NZ women were actually ahead of Australian women. The article doesn’t have enough information to help one understand exactly what is being compared, but I still thought the numbers were interesting, including noting that Australian people need more because their state pension is means tested.

 

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