Lack of knowledge of KiwiSaver is costing thousands of Kiwis huge amounts.

It seems a compelling argument – make an extra $235,000 in your lifetime – and yet 700,000 New Zealanders are ignoring it.

Rupert Carlyon, founder and managing director of digital KiwiSaver advisers and investors Kōura, says the problem is even more widespread than that – quoting Kōura research which shows that 53 per cent of KiwiSaver members (about 1.5 million people) are in the wrong funds, potentially costing them hundreds of thousands of dollars.

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