Latest / Early Edition with Ryan Bridge / Ryan Bridge: We need more of a heads up on Kiwisaver

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Ryan Bridge: We need more of a heads up on Kiwisaver · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Key We saver. I was thinking about this over the weekend.
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  Speaker 1: I get why. I get why the government is doing
• 0:05
  Speaker 1: the old switcheroo. You know, I get it means tests
• 0:09
  Speaker 1: the government sweetener, harve it for everyone else, save yourself
• 0:12
  Speaker 1: a bunch of money. Then we workers and our employers.
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  Speaker 1: We'll slowly put more into the scheme over the time,
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  Speaker 1: and you build up to that so that when it
• 0:21
  Speaker 1: all comes out in the wash, we're at least no
• 0:24
  Speaker 1: worse off than before budget day. All right, I get it,
• 0:27
  Speaker 1: except that we will be worse off because it's us
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  Speaker 1: and our employers paying for it. Right, We pay more upfront,
• 0:36
  Speaker 1: Our employers pay more upfront. That's added cost. Businesses recover
• 0:41
  Speaker 1: cost by putting up prices which we end up paying,
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  Speaker 1: or by lowering costs like wages, which is how most
• 0:47
  Speaker 1: of us make a living. Right, So the net effect
• 0:50
  Speaker 1: is worse for us and better for the government. Now again,
• 0:53
  Speaker 1: I get why they need to slash spending. But the
• 0:56
  Speaker 1: problem with tinkering with key we save it is this,
• 1:00
  Speaker 1: For your average key, we working hard, saving, planning for retirement,
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  Speaker 1: that's what we're told to do. These changes throw all
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  Speaker 1: your calculations out of whack. You plan on a long term,
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  Speaker 1: predictable set of circumstances. When they're changed without warning and
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  Speaker 1: at random, it punishes the very people who are trying
• 1:23
  Speaker 1: to do the right thing. We need more of a
• 1:26
  Speaker 1: heads up on changes to key we Saver, thank you
• 1:29
  Speaker 1: very much, and more importantly on NZ super. It's not
• 1:33
  Speaker 1: a matter of if, but when. That also gets a
• 1:37
  Speaker 1: means test, even if the when is post Winston Peters.
• 1:41
  Speaker 1: Nikola Willis says she's been giving this some thought. The
• 1:45
  Speaker 1: future of superannuation I would like to know, and other
• 1:48
  Speaker 1: hard working key we savers I'm sure would also like
• 1:52
  Speaker 1: to know sooner rather than later, what those thoughts are.
• 1:58
  Speaker 1: For more Familily Edition with Ryan Bred Listen live to
• 2:01
  Speaker 1: news talks. It'd be from five am weekdays, or follow
• 2:04
  Speaker 1: the podcast on iHeartRadio