Date 9th March 2017

Proposed changes to New Zealand Superannuation - A good start but more to be done.

Workplace Savings New Zealand Council today welcomed the proposed changes to New Zealand Superannuation announced by Prime Minister Bill English, but says more needs to be done to prepare Kiwis for retirement.

The Chief Executive of Workplace Savings Richard Klipin said the package of changes announced this week is good policy, but we need to ensure that New Zealanders will get the retirement they deserve.

“Giving the community financial choices and providing for a comfortable retirement is a key part of the national debate, said Mr Klipin “This is a really good start, however the role and place of KiwiSaver contributions, investment returns, increasing consumer literacy and client engagement as well as contribution rates and the changing nature of work are all part of the debate.”

“These are tough issues to manage,” said Mr Klipin. “The nature of work, health and retirement are major issues facing governments and policy makers across the globe. Getting policy settings right, increasing financial literacy, and helping people make quality decisions about savings, investments and lifestyle in retirement is key for the New Zealand community.

“This is a big debate and we look forward to contributing to this in the lead up to the election and beyond.”

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