Changes to Kiwisaver announced in the Budget should not lead to rushed decisions about pulling out of the scheme.
Among the changes announced was a change to the contribution levels of the employer, and the government.
The government's tax credit to the tune of $1040 is being halved to $520 and the minimum employer contribution is rising to three per cent from two per cent.
IRG BOP's Jonathan York says these changes should not cause an exodus from the scheme as it is still good overall, and with the changes not due to come into effect immediately, there is time to think.
3 comments
National Party win the Export Award
Posted on 24-05-2011 14:08 | By Openknee8ted
of course there will be as people exodus from the country. Figures from Statistics New Zealand (SNZ) show a seasonally adjusted net outflow of 500 migrants in March, the largest monthly outflow in a decade.
What was it that Muldoon Said again??
Posted on 24-05-2011 16:08 | By carpedeum
Good on Nat Party for addressing this issue- I was VERY pleased to learn that 50% of KiwiSaver participants had the common sense to leave their contribution at 4% from them and an equal amount from their employers when it was dropped to 2% earlier on - shows that we have HALF the working population with some brains.Anyone trying to pull out now should perhaps think a bit harder and a bit longer.
Super
Posted on 24-05-2011 20:48 | By Glen Clova
If that Idiot Muldoon hadnt killed the last super scheme the country would have been well on its way to a decent pension for the over 65`s.If you are lucky you will live to that age and to try and live on the super if you don't have a few bob put by must be hard also times get harder as your body is getting older and there are lots of jobs you cant manage and need help with which cost you money.Some people need compulsory saving as they don't have the willpower to save.
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