KiwiSaver providers hope for political accord

National has promised to increase contribution rates to 6% for both employees and employers if it is returned to government. In his State of the Nation speech in Auckland yesterday he named KiwiSaver as one of National's key election planks going into this year's election.

NZ First has proposed a 10% contribution rate and to make the scheme compulsory, offset with tax cuts.

Pie Funds chief executive Ana-Marie Lockyer said she wanted to see genuine cross-party collaboration this year and a shared commitment to long-term success for KiwiSaver.

“That includes agreement to support a build on of the staged increases already signalled in party policies, giving New Zealanders confidence that the system will remain stable, predictable and focused on improving retirement outcomes rather than short-term politics.”