AFA Expert Opposes National's Latest KiwiSaver Policy
One Authorised Financial Advisor who specialises in
helping individuals plan for a better financial future by
maximising their KiwiSaver is vehemently opposed to
National’s proposed policy which would allow New
Zealanders wanting to start a new business to ‘dip into’
Clive Fernandes, Founder and Director of National Capital.co.nz said in response to the policy announcement, "This is a terrible idea. The primary reason for small businesses failing is undercapitalisation. And here we have a policy which is encouraging someone who is unemployed to start a business using $20,000 from their retirement savings. It’s a recipe for disaster.
“KiwiSaver was intended as a retirement savings scheme. We already have a problem, that even with KiwiSaver, a large proportion of Kiwis will not have enough money to retire on. Encouraging them to withdraw even more from their KiwiSaver accounts will only exacerbate the problem."