The Nats have always adopted our way or the highway for retirement income decisons, rarely following any evidence based research or recommendations. Regular interference with Kiwi Saver, and an appalling lack of knowledge re NZ Super eiher the history or what tweaks might improve the twin NZ retirement income schemes, Kiwi Saver/NZ Super.
Now Nicola Willis appears saying there will be no change under her watch on universal super, apart from increasing the age of entitlement. Has she just woken up, that our retirement model, has been built around the 2007 Kkwi Saver scheme and the much longer universal Syuperannuation principles?
On Kiwi Saver Nicola Willis https://www.stuff.co.nz/politics/360997276/here-are-5-things-nicola-willis-said-about-kiwisaver
Act /NZ First and Labour have indicated nil or limited suppoprt for Nationals pending changes, which does provide an opportunity for sensible political decisions, can we perhaps hope for the conducting of a full review of NZ Super (last done 1991) and Kiwi Saver, so New Zealand remains a world leading retirement income policy country.
This editor remains bemused and frightened, that our politiicians cannot see the quality of our Kiwi Saver/NZ Super policy, its efficiency, effectiveness and low cost, and just build upon that substance to remain the envy of the other OECD countries.
Instead we seem to be able on numerous examples to develop poor policy, and on good policy, want to tinker and change it.
As Martin Hawes said “Mess with it at our peril” and by this he meant, significant change or new policy will be costly, with many unintended consequences and the new costs , affecting the young generations.