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


Slowdown in KiwiSaver enrolments

Slowdown in KiwiSaver enrolments

Declining numbers of new enrolments in KiwiSaver suggest the scheme has been undermined by National's repeated changes and reversals, says Labour's Associate Finance spokesperson David Parker.

"We have structural problems in our economy with increasing private debt, a rising current account deficit, and budget projections showing that we are getting poorer year after year under current settings," David Parker said.

"New Zealand needs to save more and to invest more in our productive export sector.

"The declining rate of new enrolments in KiwiSaver shows that the Government's changes have had adverse outcomes," David Parker said.

"National's latest signal that it may now reverse its earlier rejection of the Savings Working Group recommendations is further proof that National is a poor manager of the economy."

David Parker said National's decision to cut contributions to the Super Fund in 2009 has also cost New Zealand billions in national savings.

"By 2050 the fund will be $26 billion smaller due to this decision," David Parker said.

"The fund has had returns of over 26 per cent in the financial year to date. The folly of National's decision is becoming more apparent by the day."

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Panic In The Pacific Over China

For years, it has been no secret that China wants closer security and trade ties with the small nations of the Pacific region. All part of Beijing’s self-image as a global superpower. To that end this week, Chinese Foreign Minister Wang Yi embarked on an unprecedented 10-day tour of the Pacific, aimed at convincing his Pacific hosts to join a cross-Pacific agreement that would let Beijing provide them with high-level police training and security, shared data co-operation and other joint services ranging from agriculture to tourism...


Covid-19: Second Vaccine Booster For The Most Vulnerable
People who are at high-risk of getting very sick from a COVID-19 infection will soon be eligible to receive a second booster, COVID-19 Response Minister Chris Hipkins said today... More>>

Crime: Govt Helps Protect Shops From Ram Raids

The Government is providing further support to help Police protect small businesses affected by a spike in ram raids, Minister of Police Poto Williams says... More>>

Government: Investment Boosts Coastal Shipping In Aotearoa
New Zealand is a step closer to a more resilient, competitive, and sustainable coastal shipping sector following the selection of preferred suppliers for new and enhanced coastal shipping services, Transport Minister Michael Wood has announced today... More>>

PM Speech: Harvard University Commencement Speech - Democracy, Disinformation And Kindness

In Te Reo Māori, the language of the indigenous people of New Zealand, I paid tribute to all of the esteemed guests who stand here in this great forest of knowledge. It is a privilege to be here, and I thank you for the honour... More>>

Government: Independent Panel Appointed To Review Electoral Law
Justice Minister Kris Faafoi today announced appointments to the independent panel that will lead a review of New Zealand’s electoral law. “This panel, appointed by an independent panel of experts... More>>

Trade: Prime Minister To Visit United States
Prime Minister Jacinda Ardern is leading a trade mission to the United States this week as part of the Government’s reconnection strategy to support export growth and the return of tourists post COVID-19... More>>




InfoPages News Channels