The Prime Minister says New Zealand needs to increase its national savings and is not ruling out a move to compulsory superannuation savings.
The Government has announced it will establish a working group to advise it on ways increase savings and investment.
Details of the working group have not been finalised yet, but it will be made up of experts, along the same lines as the Tax Working Group which advised the Government on tax reform.
Compulsory retirement savings could be an issue that falls within the working group's scope, but changes to the age of eligibility and level of payment for current New Zealand superannuation scheme have been ruled out.
Mr Key said on Monday the group will look at all options and is ruling nothing in or out at this stage.
"Some New Zealanders don't save - even if something like Kiwisaver provides some tremendous incentives to do so, because of the matching programme from employers and business.
"I certainly want to see national savings rise, so that we are less reliant on foreign borrowing."
Mr Key says if New Zealanders saved more, the money could go into the productive sector and fund new companies and investments.
The Labour Party's finance spokesperson, David Cunliffe, says the lack of savings in New Zealand is an urgent economic problem and National should already have a plan to deal with it.
