Older Kiwis May Lack Support for KiwiSaver Funds

The Financial Markets Authority has expressed worries that New Zealanders aged 65 and over may not receive sufficient support for managing their KiwiSaver funds. This raises potential issues for older Kiwis as they approach retirement.

The authority highlighted that many older adults could face challenges navigating their KiwiSaver accounts. As they grow older, their financial literacy may decline, making it harder to manage investments effectively.

There are concerns that this demographic may be overlooked when it comes to guidance and resources. The Financial Markets Authority is calling for improved support tailored to the needs of older Kiwis.

Addressing these issues is crucial for ensuring that those nearing retirement have the knowledge and tools necessary to make informed decisions about their savings. The aim is to ensure all Kiwis can benefit from their KiwiSaver investments.

Originally reported by RNZ New Zealand Headlines.