Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


KiwiSaver now an easier choice says Commissioner

Retirement Commission
Media release
18 May 2007

KiwiSaver now an easier choice
says Retirement Commissioner

The Retirement Commissioner says the Government's planned additions to the KiwiSaver scheme now make joining more worthwhile.

The Commissioner, Diana Crossan, says Budget announcements of compulsory employer contributions and tax credits of $20 a week mean people need to spend time working out the status of their personal finances before they make decisions about joining KiwiSaver.

"Budget announcements may make KiwiSaver more attractive," says Ms Crossan. "Experts will say it is an easier decision, but people will need to make well informed decisions themselves, based on their particular financial situation.

Ms Crossan says people will definitely need to use the Retirement Commission's new online financial check up - Sort Me. Sort Me helps people work out how financially sorted they are. It's the first step to understanding whether KiwiSaver's right for them. Sort Me and other relevant calculators and information are available on www.sorted.org.nz .

Ms Crossan said workplace savings schemes were proven to be the easier way of saving, and to attract people, the schemes needed to be as simple as possible.

"Many people have a large mental hurdle which can stop them signing up to long term savings. The kick start cash incentive and automatic opt in to KiwiSaver may help people over that hurdle.

"The new announcements certainly make KiwiSaver more attractive, but it's important for people to have a good grasp of their financial priorities.

"KiwiSaver gives all New Zealanders a trigger to think seriously about their money situation. Whatever your age or stage putting off important financial decisions is not the way to go - whether it be a decision to pay off debt or to plan for retirement," she says.

"One thing's for sure, most people need to prepare financially for retirement if they want more income than is provided by New Zealand Superannuation - which currently after tax is approximately $14,407 if you're single and living alone or $22,164 if you're a couple," says Ms Crossan.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case...

Obviously, sick people shouldn’t be being treated by doctors and nurses who are themselves sick and potentially infectious. Similarly, Police emergency calls also need to be fielded by people who’re feeling alert, and on top of their game. More>>


MPs' Computers To Be Searched: Inquiry Into Leak On Simon Bridges' Expenses

An inquiry has been launched to find out who leaked the National Party's expenses to the media... Parliament's speaker, Trevor Mallard, said a Queen's Counsel would lead the inquiry with the help of an employment lawyer and also someone with forensic IT skills. More>>


Teachers Strike: Nationwide Rallies And Marches

Teachers and principals voted for a full day strike to be held on 15 August to send a strong message to the Government that the current collective agreement offers from the Ministry of Education would not fix the crisis in teaching. More>>


Wellington.Scoop: City Council Ends Its Support For Jackson’s Movie Museum

The Wellington City Council and the Movie Museum Limited have today announced a mutually-agreed parting of the ways for a joint project between the Council’s Convention Centre and TMML’s Movie Museum... Both parties remain optimistic for the future of their respective projects. More>>

Pay Equity: Historic Settlement For Education Support Workers

The New Zealand Educational Institute (NZEI) and the Ministry of Education today signed Terms of Settlement to address a pay equity claim for 329 support workers who work with very young children in early childhood and primary schools. More>>


Gordon Campbell: On The Stereotypes About Jacinda Ardern

Routinely, female politicians get depicted as either show ponies or battle axes, with little room for anything else in between. .. More>>

Weekend Interviews: "Discriminatory And Racist" Aussie Deportations

The former president of Australia’s Human Rights Commission Gillian Triggs says deportations have risen dramatically in Australia since 2014 when ministers and ministerial delegates were given the power to cancel visas - and half of those being deported are New Zealanders. "These are massive numbers, actually escalating dramatically."... More>>


Legal Challenge: Prisoner Has 9 Boxes Of Documents Seized

Human rights organisation People Against Prisons Aotearoa says a prisoner they advocate for has had 9 boxes of legal documents seized from him just days before his case against the Department of Corrections was to be heard. More>>

Single-Use Plastic Bags: Govt To Phase Them Out

Single-use plastic shopping bags will be phased out over the next year, Prime Minister Jacinda Ardern and Associate Environment Minister Eugenie Sage announced today. More>>





Featured InfoPages