KiwiSaver providing poor value for money, needs rewrite, Treasury says

Sun, 24 May 2015

By Paul McBeth May 25 (BusinessDesk) - The Treasury recommended a wider review of the KiwiSaver scheme than just axing the $1,000 kick-start payment, arguing it represents poor value for money for the government and has vague aims, according to its regulatory impact statement on the post-budget law change needed to drop the incentive. The change was passed into law during an extended parliamentary sitting late Saturday evening, following Thursday's budget announcement, amid Opposition party claims the government was robbing future generat...

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