Nicola Willis: Finance Minister on the withdrawals from the Super Fund, rising superannuation costs
Finance Minister Nicola Willis says changes to KiwiSaver will be revealed at next week’s Budget.
The NZ Super Fund will cover only 20% of future Superannuation costs, with withdrawals starting in 2028.
The fund will continue growing despite withdrawals, but Superannuation costs are expected to reach $29 billion annually.
There will be changes to KiwiSaver announced at next week’s Budget, with the Super Fund only expected to cover – at best – 20% of the cost of Superannuation in the future, Finance Minister Nicola Willis says.
Willis wouldn’t say what the changes…
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