Plan to make KiwiSavers' $50,000 richer in retirement123RF Private KiwiSaver schemes could end up faced with a low-cost giant Government KiwiSaver scheme to compete with. A super-low cost Government-run KiwiSaver could leave some KiwiSavers over $50,000 richer in retirement, released Treasury papers show. The pricing used in the modelling was based on the fees charged by the new not-for-profit KiwiSaver scheme launched by Simplicity. There were moral, political and fiscal risks to the government managing KiwiSavers' private accounts, he said. Others have come out against the idea of a state-run KiwiSaver scheme, including banking expert Claire Matthews, of Massey University.

Source: Stuff December 25, 2017 16:52 UTC