Joint Statement
Ministers of Finance, Commerce, Revenue

28 May 2007 Media Statement

KiwiSaver campaign takes off

Today's launch of the first KiwiSaver television commercial marks another important milestone in helping New Zealanders save for their future, government ministers said today.

"With just five weeks to go before KiwiSaver launches on 1 July, the campaign will help focus people's minds on the opportunities the scheme offers to secure their retirement dreams," said the ministers

"We need to lift our savings for our own long term financial security, but also to build a stronger economy and fairer society," said Dr Cullen.

"KiwiSaver is the most important initiative in a generation to change our savings habits and the measures announced in Budget 2007 make it even easier for New Zealanders to take steps today to safeguard tomorrow.

The government is supporting saving by contributing $40 a week in tax credits for workers and employers. Employers will also have to provide a matching 4 per cent contribution phased in over four years from 1 April 2008.

"The campaign line is 'KiwiSaver. Making easy work of saving.' This goes to the core of the design of KiwiSaver – work-based, simple and accessible to the widest range of the working population," said Peter Dunne.

"The multi-media advertising campaign for KiwiSaver kicks off tonight with the first advertisement airing on TVNZ during the One News. This aims to tell every New Zealander more about KiwiSaver.

"A second advertisement, which will run from 24 June, targets people who are starting work or changing jobs. Some 700,000 people change jobs every year and new employees are automatically enrolled. This is a key design feature because it makes the decision to save that much easier. You have to make a conscious decision not to save and opt out.

"A third television advertisement will air in October 2007 and targets those who will need to opt in to KiwiSaver (existing employees and self-employed people).

"Print advertising begins mid June with metropolitan, regional and community newspapers tying in with online advertising on key internet sites, general print advertising, radio and ethnic media placements.

"We are helping people make an informed choice about what is an important financial decision," said Lianne Dalziel. "Employees will also receive information packs and a comprehensive 'how to' guide is being distributed to employers.

"We are confident KiwiSaver will make a real difference to savings habits so New Zealanders can look with confidence to a retirement that meets their aspirations."

Note

The cost of the KiwiSaver public information campaign is $7.4million over two years. This includes television, radio, press and on-line production and placement as well as the direct mail communications to employers. Saatchi and Saatchi Wellington were chosen in 2005 after a competitive tender to produce the television, radio and print advertisements.

The first KiwiSaver television commercial will be launched at a special function today at 2.15pm, Grand Space Conference Room, level 2, Holiday Inn, 75 Featherston St, Wellington.

Further information is available at:
http://www.kiwisaver.govt.nz/

The Retirement Commission's "Sorted" website helps people make decisions about KiwiSaver by calculating how much they are likely to receive at age 65:
http://www.sorted.org.nz/calculators/kiwisaver-quick-calc/page1.php

ENDS

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