More than 300,000 join KiwiSaver

More than 316,000 people have signed up to the KiwiSaver superannuation scheme five months after its introduction, Finance Minister Michael Cullen and Revenue Minister Peter Dunne said today.

Sign-ups were well ahead of projections. Treasury had forecast 350,000 would join in the first year.

The ministers said the most encouraging sign was the large number of younger New Zealanders joining the scheme.

Nearly 20 per cent of those signing up were younger than 25 and over 33,000 were under 20-years-old.

Over half those who had joined up were under 45.

- NZPA