KiwiSaver changes - more upside than downside?

The Prime Minister today provided a little more detail on the KiwiSaver changes which will be announced in next week's budget.

Importantly for scheme providers, these will not be made until after the election – giving the public an opportunity to vote on them and industry time to adjust.

This Brief Counsel speculates upon the likely content of the new round of KiwiSaver amendments.

Key messages

• The Prime Minister had a strong savings message in his speech.
• He explicitly endorsed KiwiSaver as a valuable savings mechanism.
• He emphasised that the proposed changes to KiwiSaver are designed to ensure its long-term sustainability and survival.

What will stay

• The $1000 kick start for new KiwiSaver members.