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Govt looks towards new moves on KiwiSaver

Author
Felix Marwick,
Publish Date
Fri, 29 May 2015, 2:02PM
(Photo: Getty Images)
(Photo: Getty Images)

Govt looks towards new moves on KiwiSaver

Author
Felix Marwick,
Publish Date
Fri, 29 May 2015, 2:02PM

The Government looks to be making new moves on KiwiSaver just days after it removed $1000 kick start payments from the scheme.

Finance Minister Bill English is making it clear mass enrolment of workers not already part of the initiative is being considered.

It's seen as a more affordable option now the kick start payments have been shelved.

Mr English says there are no plans to remove or cut the annual $520 Government contribution made to KiwiSaver participants who meet minimum savings targets.

"The Government contribution is at a level that's sustainable and we will be looking at how much it would cost if a whole lot more people joined through a mass auto-enrolment exercise.

"The Government contribution's a pretty critical part of the long-term effectiveness of KiwiSaver."

However, his office says the move has always been part of the Government's plans.

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