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KiwiSaver auto-enrolment put on hold

Author
Felix Marwick,
Publish Date
Tue, 1 Dec 2015, 2:33PM
Finance Minister Bill English (Getty Images).
Finance Minister Bill English (Getty Images).

KiwiSaver auto-enrolment put on hold

Author
Felix Marwick,
Publish Date
Tue, 1 Dec 2015, 2:33PM

The Government's putting its plans to introduce auto-enrolment into KiwiSaver schemes on hold.

Finance Minister Bill English said there are a couple of reasons for the decision.

One is that it was going to cost money and, while the Government has surpluses, they're not large.

Mr English also said the other reason is the existing uptake of the scheme.

"It's increasingly the view that most people who can save are in KiwSaver.  

"Going through a complex administrative process to try and get everyone else in to allow them to opt out could be a cost that's not worth the benefit." 

 

 

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