Rt Hon Winston Peters
New Zealand First Leader

28 March 2014

Lucky Nine Hit Kiwisaver Jackpot

The KiwiSaver “Lotto” winners are: AMP, ANZ, ASB, BNZ, Grosvenor, KiwiBank, Mercer, Fisher Funds and Westpac.

The “lucky nine” are the Government’s choice of financial houses to be the new set of default providers for KiwiSaver for seven whole years.

“The feast at the National Government’s banquet table continues unabated – the financial services industry put their chairs under the table five years ago and Prime Minister John Key has been dishing out extra helpings ever since,” says New Zealand First Leader Winston Peters.

“The champagne corks will be popping in the knowledge that the ‘lucky nine’ and all the others in the financial sector who receive KiwiSaver deposits will pocket $22 billion over the next 30 years from management fees.

“New Zealand First has a better alternative – KiwiFund. It will be the safer choice for Kiwis who want to invest their savings for the future.

“KiwiFund offers Kiwis a real choice,” says Mr Peters.

“KiwiFund will be a government-owned and government-run KiwiSaver scheme that will carry a government guarantee.

“The fund will be used primarily to invest in New Zealand assets and infrastructure.

“New Zealand First says we need a retirement savings scheme that serves Kiwis and New Zealand,” says Mr Peters.

ENDS

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