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Kiwis joining KiwiSaver now exceed 800,000

Friday 19th September 2008

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More than 800,000 New Zealanders have joined KiwiSaver, according to Finance Minister Michael Cullen.

The number of members stood at 800,213 as at September 30. Of that total, 383,388 actively chose a provider and went directly to a scheme to enrol, the statement said. A further 125,424 actively chose to join KiwiSaver and enrolled via their employer and 291,401 new employees were automatically enrolled by their employer.

"Participation in workplace savings is quickly becoming the norm in New Zealand and that is a positive development as our country's household savings performance has been weak for many years," Cullen said.

By Jonathan Underhill

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