Compulsory KiwiSaver not necessarily silver bullet
The group's chairman, Kerry McDonald, told a media briefing in Wellington the group was using Australia as a "laboratory" to draw on the experience across the Tasman. Though Australia's had compulsory superannuation since 1992, McDonald said the data was unclear as to whether it had boosted that nation's overall level of savings.
"The data I've seen at this stage is pretty equivocal on whether it increases national savings or not - I need to be pretty clear that's work in progress," McDonald said.
The group won't be looking at the household sector, which includes KiwiSaver, until later this year, he said.
The group has been tasked with finding ways to lift the level of New Zealanders' savings across the board, and was asked to focus on government saving, tax on capital income and the role of KiwiSaver. Finance Minister Bill English excluded New Zealand superannuation from the terms of reference.
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