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Pension Assets Lead Rise In Household Wealth
Household pension assets rose in the March 2024 quarter, and led an increase in household wealth, according to data released by Stats NZ today.
The total value of insurance and pension assets of households rose $8.3 billion (5.5 percent) from the December 2023 quarter, following a $6.2 billion (4.3 percent) rise in the previous quarter.
In the year ended March 2024, household insurance and pension assets rose just over 10 percent.
“Superannuation funds such as KiwiSaver comprise the large majority of household insurance and pension assets,” national accounts institutional sectors senior manager Paul Pascoe said.
“These funds are invested in local and global equities which can be quite volatile, and in this quarter led an increase in household wealth.”
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- Pension assets lead rise in household wealth
- National accounts (income, saving, assets, and liabilities): March 2024 quarter
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