Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

KiwiSaver numbers surge after 1 April changes


KiwiSaver numbers surge after 1 April changes

The number of New Zealanders in KiwiSaver has surged forward following the 1 April roll out of employer contributions and tax credits, Finance Minister Michael Cullen and Revenue Minister Peter Dunne announced today.

As at 9 April, 542,338 New Zealanders are enrolled in KiwiSaver with over 20,000 of those members having joined in just the first nine days of April.

“The number of New Zealanders getting behind KiwiSaver continues to amaze,” Dr Cullen said. “Over 2,000 New Zealanders have joined KiwiSaver every day in April – a huge response to the enhancements introduced by the government at the start of the month.

“No one expects that pace to continue, but it’s safe to say the sceptics who thought New Zealanders would turn down a chance to save for their retirement were dead wrong. New Zealand workers have turned KiwiSaver into arguably the most successful voluntary savings initiative anywhere in the world, and certainly a blueprint for other nations.

“With over 100,000 KiwiSavers aged under 25 and more and more people joining through automatic enrollment and lower and middle income groups, KiwiSaver is clearly building a new savings culture in New Zealand.”

Peter Dunne said workers and employers should be congratulated for their efforts in making KiwiSaver a success.

“KiwiSaver is a success because workers got behind it and because employers worked hard to make it available in their workplaces,” Mr Dunne said.

“Inland Revenue has worked hard to deal with teething problems as they emerge and will continue to do so. In the mean time, we can all be pleased that KiwiSaver is raising the bar for what New Zealanders can hope for in retirement.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice.

Evidently, the National government is similarly desperate for anything that might discredit or derail the Ardern juggernaut, even if that means throwing Internal Affairs Minister Peter Dunne under a bus More>>

 

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

Mental Health Foundation: 'Positive First Steps'

“The heavy reliance on pilots and targeted approaches in the package announced today makes it plain that additional funding will be needed so that activities that work can be made available throughout New Zealand,” says Mr Robinson. More>>

ALSO:

'Gift' To NZ: Synod Considers Third Christchurch Cathedral Option

Members of the Anglican Diocese of Christchurch will consider three, not two, options regarding the future of the ChristChurch Cathedral... The new option is for the Synod to gift the Cathedral building to the Government for the people of New Zealand. More>>

ALSO:

PM's Presser: Labour's Water Policy 'Reckless', Says English

The Labour Party has "bumbled into" its policy to charge for water in a "reckless" way that would put a Labour-led government on a collision course with both Maori and other water users, Prime Minister Bill English said at his weekly post-Cabinet press conference.. More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election