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Source: ONE News -
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New research has found that half of all KiwiSaver members wrongly believe their investments have a Government guarantee, and more than one-third have no idea whether there is a guarantee or not.
The UMR National Survey says many people are living with a false sense of security about their investments in the scheme.
It says 34% of New Zealanders are signed up to KiwiSaver, and of those members about 56% say they do not know that much or hardly anything about it.
When asked if the KiwiSaver fund they had invested in had a Government guarantee, 48% said it had when in fact no such guarantee exists.
A further 37% said they were unsure whether there was a guarantee and only 15% correctly answered that there was no guarantee.
UMR Research surveyed a nationally representative sample of 750 people, aged 18 years and over.
