Changes to KiwiSaver in Budget 2011 will encourage a higher level of private savings from individuals and employers, and reduce the call on borrowed government money for contributions.
This will make the scheme more financially sustainable for the future and free up $2.6 billion over four years. KiwiSaver funds are expected to reach almost $60 billion in 10 years, and the initial $1000 Kick-Start payment will remain unchanged.
For more information visit:
http://national.org.nz/budget2011/Kiwisaver-Increasing_private_savings.pdf
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