If you’re not in Kiwisaver you probably don’t need it, don’t understand it or can’t afford it.
To put it more bluntly – you’re too rich, too stupid or too poor.
Kiwisaver is a generous scheme and anyone who isn’t making good provision for their retirement and has even a little spare money each week is by-passing a relatively painless way to be much better-off in their later years.
The scheme has had a better than expected take-up but there are still a good number of people who either didn’t enrol, or who were enrolled and opted out.
All new workers are automatically enrolled and have to opt-out if they don’t want to stay in. National is considering extending automatic enrolment to all workers.
The idea behind this is that if people had to opt-out inertia would capture a good number of those who hadn’t got round to enrolling.
It’s not compulsory saving because people could choose to leave, but just as many haven’t got round to opting in, at least some wouldn’t get round to opting out.
Homepaddock 