The KiwiSaver objective to "encourage a long-term savings habit" appears to be working.
The vast majority of people closing their KiwiSaver accounts are doing so because they have retired, figures from the Inland Revenue Department show.
Of the over 170,000 who closed their KiwiSaver account as of June this year, about 110,000 did so because they had reached retirement.
Other reasons included permanent emigration and death, which accounted for just under 20,000 closed accounts each.
from
http://www.stuff.co.nz/business/money/98890863/The-most-common-reason-people-close-their-KiwiSaver
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