How confident do Kiwis really feel about retirement?

Retirement tends to move from a distant idea to something much more real somewhere between our mid‑40s and early‑60s. For many New Zealanders, it is a time marked by questions rather than certainty: Will I have enough? Am I doing the right things? What should I focus on now?

To better understand how people are feeling, AMP commissioned some independent research to ask New Zealanders a simple question: do you feel financially confident about retirement? The answers reveal some real pressure points, but also a practical opportunity to improve confidence with clearer information and a few thoughtful steps.

Confidence is lower than many expect

Fewer than half of New Zealanders say they feel financially confident about retirement. Confidence is lowest among people aged 40–49, a life stage that often comes with competing priorities such as mortgages, children, career pressure and caring responsibilities.

Digging deeper, a clear gender gap emerges. Women in this age group are significantly less likely to feel confident than men, particularly single mothers, people on lower incomes and those who are unemployed or between jobs. While the gap narrows in later years, it remains present across most age groups.

Income also plays a major role. Almost three‑quarters of people earning more than $190,000 a year feel confident about retirement. Among those earning less than $45,000, that figure drops to around two in five. These differences reflect broader financial realities, but they also help explain why many people feel uncertain even when they are saving regularly.

NZ Super matters, but many say it won’t be enough

95% of Kiwis surveyed viewed NZ Super as an important part of their retirement plan. At the same time, three out of four retirees say it is not enough to support them on its own.

At around $647 per week before tax for a single person, NZ Super can struggle to cover basic living costs, particularly housing, power, insurance and healthcare. For many, it leaves little room for the flexibility, comfort or security they hope to enjoy later in life.

This concern sits alongside a bigger demographic shift. New Zealand’s population is ageing, and people are living longer. By the mid‑2030s, around one in five New Zealanders will be aged 65 or over. That figure is expected to rise to one in four by 2051 and one in three by 2078. With fewer working‑age people contributing to the tax base, uncertainty around future funding adds to the pressure many feel about relying solely on NZ Super.

Engagement is often low, not effort

Alongside lower confidence, the research highlights limited engagement with KiwiSaver and relatively low savings outside it. Many people contribute regularly but rarely revisit their settings or consider how their savings might translate into income later on.

What stands out most, however, is the uncertainty about what to do next. A significant number of people simply do not know what “enough” looks like for them, or how close they might already be.

This matters, because confidence tends to come from clarity. When people understand their current position and their options, uncertainty has far less hold.

Confidence grows with clarity

For many people, improving retirement confidence does not require dramatic changes. It starts with taking stock and making informed adjustments over time. At AMP, we’ve been supporting Kiwis with their financial goals for many years so we understand first-hand what it takes to be confident and prepared for retirement. 

Here are a few things you can do now to take back control and start to get clearer and more confident about life after work:

Use tools to explore what the future might look like

Three in five people aged 40-64 don’t know what they’ll need to have saved to retire the way they want. AMP’s KiwiSaver Calculator shows how much you might have at retirement, how that compares with a target lifestyle, and whether there is likely to be a gap. These projections are not predictions, but they are a useful starting point for planning.

Review your KiwiSaver settings

Nearly half of Kiwis report their engagement with KiwiSaver as low or very low. Fund choice and contribution rates play a big role in long term outcomes. What suited you ten years ago may not suit you now. Checking that your settings still align with your timeframe and comfort with risk can make a meaningful difference over time.

Get guidance when you need it

Only 15% of Kiwis approaching retirement have spoken to an adviser about their retirement plans, despite many feeling stressed about having enough. A conversation can help clarify options orhighlight blind spots. For many, it provides peace of mind rather than pressure. AMP can offer you advice no matter where you are on your financial journey – whether it’s helping you choose the right fund for your goals, or getting a retirement check-up to confirm whether you’re on track.

A more achievable path forward

At first glance, the findings paint a concerning picture. Confidence is low for many, engagement could be stronger, and the future can feel uncertain. But viewed another way, the picture is more encouraging.

A lack of confidence is often a lack of clarity. And clarity is something that can be built, step by step.