supplied The conclusion is the one almost every other OECD country has come to: we need Kiwisaver to become compulsory. The conclusion is the one almost every other OECD country has come to: we need Kiwisaver to become compulsory. Making KiwiSaver compulsory could save up to $1 billion annually in government contributions, because a compulsory scheme needs no incentives. I haven’t been in favour of compulsory KiwiSaver in the past, but the reality of it now benefiting too few Kiwis has changed my mind. And if the Government removed the employer superannuation contribution tax on KiwiSaver contributions, KiwiSaver contributions wouldn’t be taxed, providing an incentive for all to save.

Source: Stuff July 06, 2020 17:00 UTC