5 May 2011

Cuts to KiwiSaver tipped

9:24 pm on 5 May 2011

A retirement savings industry group is worried the Government is planning too many cuts to the KiwiSaver retirement scheme in the Budget.

The Government has already halved the employer contribution from 4% to 2%.

Workplace Savings New Zealand chairman David Ireland says that the Government contribution of up to $1042 per year is encouraging people to save.

He said any changes to that part of the scheme may result in a halt to people's saving behaviour.