Saving for the future

Posted June 8th, 2007 by Dr James Pratt

By now most people will have heard a little, or a lot, about KiwiSaver - the Government's voluntary, work-based retirement savings scheme. It's designed to make it easy for New Zealanders to put aside regular savings now, to enjoy in the future. Everyone who joins the new scheme receives a $1,000 kick-start payment from the Government.

Significant enhancements to the scheme were announced in the recent budget, including from April 2008, compulsory employer contributions and employer tax credits. These initiatives will substantially boost the savings of those who join the scheme and make regular contributions.

KiwiSaver starts on 1 July 2007.

More information:

You can find out more about it at www.kiwisaver.govt.nz.

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