Cantabrians - leading the pack as super savers, not just sporting stars

13 March 2020

Canterbury’s proving itself a target rich talent ground for astute savers as well as its traditional sporting superstars.

A customer review of AMP KiwiSaver members right across the country shows people from the South Island’s most populous province featuring on the podium in three key KiwiSaver categories.

Cantabrians not only represent the highest proportion of clients to have made an active investment choice about their KiwiSaver – i.e. they have chosen which fund they want to invest in – but they also boast the third highest KiwiSaver account balances on average across the country, behind Wellington and Auckland.

Blair Vernon, Chief Executive AMP Wealth Management, says it’s very much a case of the Canterbury region leading the pack when it comes to making the most of their KiwiSaver.

"Of the top 10 areas in New Zealand where KiwiSaver members have made an active choice about which fund to invest in, five of those are in the Canterbury region – and it’s helping them to grow their KiwiSaver balances."

Canny Cantabs also rate as the number two region in New Zealand for getting the ‘free’ KiwiSaver money on offer from the Government. Canterbury has close to the highest proportion of KiwiSavers qualifying for the $521 annual ‘Government contribution’ by making sure they put in at least $1042 a year.

And Vernon adds that while many Cantabrians are on track to an aspirational retirement, they’re also putting their savings to good use.

"Last year Canterbury also had the highest proportion of first home withdrawals from KiwiSaver."

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