New research reveals strong support from Kiwis in strengthening and improving access to KiwiSaver schemes
New Zealanders want strengthened KiwiSaver and improved access to the savings scheme, according to the latest report from Financial Services Council.
The findings showed that Kiwis across the board want KiwiSaver beefed up – including more options on how they contribute and access KiwiSaver schemes.
“After ten years of KiwiSaver we are maturing in our understanding and appreciation of the scheme. Given the universal support this research shows, we now need to have a constructive policy debate on contribution levels and how we can increase them in a sustainable manner,” Financial Services Council chief executive officer Richard Klipin said.
“It is important that these findings are given serious consideration at policy level.”
A clear majority of respondents also wanted the ability to choose automatic increases in contribution rates and to have extra choices to increase contributions.
According to Financial Services Council, over 2.6 million New Zealanders are signed up and more than $40 billion is under management in KiwiSaver funds.
“The research provides an opportunity to understand New Zealanders views on the KiwiSaver scheme and how they want it to evolve. It’s now up to industry and Government to take the findings on board and work to improve KiwiSaver,” Klipin said.
The research was conducted from more than 2,000 New Zealanders and is carried out by Horizon Research. It is one of the largest ever undertaken on New Zealanders views on KiwiSaver.
Related stories:
First-home buyers getting creative to save for a home
KiwiSaver increases inequality, says group
The findings showed that Kiwis across the board want KiwiSaver beefed up – including more options on how they contribute and access KiwiSaver schemes.
“After ten years of KiwiSaver we are maturing in our understanding and appreciation of the scheme. Given the universal support this research shows, we now need to have a constructive policy debate on contribution levels and how we can increase them in a sustainable manner,” Financial Services Council chief executive officer Richard Klipin said.
“It is important that these findings are given serious consideration at policy level.”
A clear majority of respondents also wanted the ability to choose automatic increases in contribution rates and to have extra choices to increase contributions.
According to Financial Services Council, over 2.6 million New Zealanders are signed up and more than $40 billion is under management in KiwiSaver funds.
“The research provides an opportunity to understand New Zealanders views on the KiwiSaver scheme and how they want it to evolve. It’s now up to industry and Government to take the findings on board and work to improve KiwiSaver,” Klipin said.
The research was conducted from more than 2,000 New Zealanders and is carried out by Horizon Research. It is one of the largest ever undertaken on New Zealanders views on KiwiSaver.
Related stories:
First-home buyers getting creative to save for a home
KiwiSaver increases inequality, says group
