MEDIA RELEASE
FOR
IMMEDIATE RELEASE
13 August 1999
INCREASED AWARENESS OF THE NEED TO SAVE -
SURVEY RESULTS
"The latest SaverPulse survey results for the June quarter
shows increasing public recognition of the need for people to save for their retirement.
The proportion of people who believe it is important to save has increased to 90%
(previous quarter 88%)," said Vance Arkinstall, Chief Executive, Investment Savings
& Insurance Association.
"This increase supports our belief that the public education
programme of the Retirement Commissioner continues to have a positive effect," said
Mr Arkinstall.
"A further pleasing aspect of this quarters survey is the
increase in the proportion who have started what they regard as retirement savings, rising
from 54% to 59%," Mr Arkinstall said.
" The low interest environment has led to significant growth
in managed fund investments as a means of savings and a greater number of the public using
advisers (29%). These are encouraging developments in line with overseas trends of
increased reliance on advisers for investment advice," said Mr Arkinstall.
"The survey continued to show that a significant proportion
of the population claim to be in favour of some form of compulsory superannuation."
[The SaverPulse™ survey is based on telephone interviews
with a random sample of 773 adults throughout New Zealand interviewed from April to June
1999. The maximum statistical margin of error on a sample of 773 interviews is +/- 3.5% at
95% confidence.]
Ends
Vance Arkinstall
Chief Executive
ISI
