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Kiwisaver Numbers Close In On 700,000

Contributor:
Fuseworks Media
Fuseworks Media

The numbers of people enrolled in KiwiSaver has passed the 670,000 mark with 2300 new members signing up every day in May, the Government said today.

Finance Minister Michael Cullen and Revenue Minister Peter Dunne said in a statement that as at May 31, 673,942 people were in KiwiSaver.

More than 70,000 people signed up in May, nearly equalling the pace set during April when numbers soared after the introduction of employer contributions and tax credits.

It was originally predicted that 270,000 people would be enrolled after one year, whereas this had been exceeded by 400,000 more in the first 11 months of operation.

The ministers said it was gratifying to see that 180,000 of those enrolled were under 25 years old

"No one would have predicted that a year ago," the ministers said.

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