The average Kiwisaver balance is up more than 10 percent on the year before, according to new numbers out today from the Retirement Commission.

But that average balance is just $41,000 and there is a significant gender gap: average male balances are about 24 percent higher than for women. And if you dare to look across the ditch it will be with envy. Australians are retiring with more than $500k in savings - in New Zealand the average balance in Kiwisaver at retirement age is about $78,000.

Dr Michelle Reyers is Policy Lead at the Retirement Commission, she spoke with Guyon Espiner