KiwiSaver beat expectations, but could be better: FSC
Chief executive Peter Neilson said, seven years after its launch, there were a number of reasons why it had beaten expectations.
He said the main reasons were that for those who found it hard to save, KiwiSaver made it easy to enrol and put the money away before it could be spent, and the kickstart incentives and matching employer contributions made it a no-brainer for most New Zealanders.
Neilson said as KiwiSaver members saw their balances grow, they were understanding the benfit of saving a bit each week for a long time.
More than 15,000 people have used their KiwiSaver accounts to buy their first homes.
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