Tweak taxes, lift minimum KiwiSaver contributions, FSC urges

Thu, 06 Sep 2018

By Paul McBeth Sept. 7 (BusinessDesk) - The Financial Services Council is urging the government to add sweeteners and raise minimum contributions to KiwiSaver if it's serious about ensuring New Zealanders enjoy a well-funded retirement. The industry lobby for fund managers and insurers outlined four recommendations in a report seeking to bridge the $218 average weekly shortfall someone will need in retirement to live comfortably. At the top of the list was increasing the minimum employee and employer contribution to 4 percent each, somet...

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