Stop calling KiwiSaver suspension a 'holiday', says Retirement Commissioner

Thu, 08 Dec 2016

By Pattrick Smellie Dec. 9 (BusinessDesk) - The right to suspend payments to KiwiSaver schemes should be reduced from five years to one and the so-called 'contributions holiday' should be renamed a 'savings suspension' to "remove the positive connection with a holiday," Retirement Commissioner Diane Maxwell says in her tri-ennial review of retirement income policies. "Stopping contributions for five years has a significant impact and disrupts long-term savings," Maxwell's Commission for Financial Capability concludes among a raft of immed...

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