KiwiSaver safe from Budget scalpel

Prime Minister John Key has announced in a pre-Budget speech that there will be no changes to KiwiSaver tax credits.

Last year's budget saw the government halve the maximum yearly tax credit from $1040 to $520, a change that kicked in earlier this year.

It also flagged an increase in the minimum employee contribution from 2% to 3%, which is due to come into effect next year.

Not-for-profit group Workplace Savings NZ, a membership organisation representing the superannuation industry, has welcomed Key's comments.