Latest / Best of Business / Dr. Claire Matthews: Associate professor's new report says Kiwisaver can be great for retirement, if used correctly

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Dr. Claire Matthews: Associate professor's new report says Kiwisaver can be great for retirement, if used correctly · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from newstalk zed B. Follow
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• 0:16
  Speaker 2: Another look at key we sabor their impact of being
• 0:18
  Speaker 2: able to pull money out for a first time. So
• 0:20
  Speaker 2: we've got a new report and they say the average
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  Speaker 2: withdrawal of seventy five grand at thirty five years of
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  Speaker 2: age should leave enough for a modest retirement by sixty five.
• 0:28
  Speaker 2: Clear Matthews, Doctor, Associate professor at MASSI and the report
• 0:31
  Speaker 2: author is back with this clear good morning, morning mate.
• 0:35
  Speaker 2: I suppose this is all ideological, isn't it? Whether you
• 0:37
  Speaker 2: see housing as a retirement tool, therefore pulling it out
• 0:39
  Speaker 2: of another retirement tool really doesn't matter, does it.
• 0:43
  Speaker 3: No, that's right. It tends to be a little bit
• 0:46
  Speaker 3: easier to manage your retirement if you're in your own home.
• 0:49
  Speaker 3: That gives you that stability, and therefore it does make
• 0:53
  Speaker 3: sense from that perceipt that's be about able to use
• 0:55
  Speaker 3: your key. We save to a system. And getting to
• 0:57
  Speaker 3: that point, is.
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  Speaker 2: This emergency thing become an issue? In other words, I'm
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  Speaker 2: skinned giving me my money back? Is that a problem?
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  Speaker 3: I think it is. I know a lot of people
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  Speaker 3: complain about how hard it is to get my money
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  Speaker 3: out for hardship. But given the volume of with rules,
• 1:13
  Speaker 3: either it is too easy or as a sign that
• 1:15
  Speaker 3: there is really significant problems in the economy, and therefore
• 1:19
  Speaker 3: that needs to be resolved. Because having large amounts of
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  Speaker 3: money coming out of Key We Save it is not
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  Speaker 3: good for everyone's retirement.
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  Speaker 2: What about the overarching thing that everyone keeps messing with it?
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  Speaker 2: I mean the government messes with it. We mess with it,
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  Speaker 2: you know, and the whole idea of retirement saving is
• 1:33
  Speaker 2: put away and forget about it. Don't mess with it.
• 1:36
  Speaker 3: Oh, that's been an ongoing issue. Yes, it's needed some improvements,
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  Speaker 3: and some of it still not quite where we want it,
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  Speaker 3: which and I hate saying that because the last thing
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  Speaker 3: we really need is to have it fiddled with again,
• 1:48
  Speaker 3: because every time the governments of whatever stripe do something,
• 1:53
  Speaker 3: do some kind of adjustment, it just makes people nervous about, well,
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  Speaker 3: what are they going to do next time? And we
• 1:59
  Speaker 3: can't afford people to be nervous about their Key We Savior.
• 2:02
  Speaker 3: We want them to trust it, to know it's going
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  Speaker 3: to be therefore their retirement and therefore to be able
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  Speaker 3: to make good use of it.
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  Speaker 2: Why don't we like Australia, they seem to have solved it.
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  Speaker 3: I can't answer that question. You'd have to ask our politicians. No.
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  Speaker 2: But if you were looking at a model, if I
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  Speaker 2: said clear, magic one time, clears in charge of solving
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  Speaker 2: this problem once overall, wouldn't you say, Australia or Singapore,
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  Speaker 2: make it compulsory, expercent get into it, stop moaning, and
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  Speaker 2: we'll see you in twenty years.
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  Speaker 3: There are cut of the elements of that. I'm not
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  Speaker 3: sure I'd want to follow the Australian model completely, but
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  Speaker 3: there are certainly elements here. I'd like to see us
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  Speaker 3: with higher contribution rates if I'd like to see it compulsory,
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  Speaker 3: So there are certainly some things there. I just wouldn't
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  Speaker 3: take the Australian mole and as a whole.
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  Speaker 2: Nice to talk to you, Clear Claire Matthews The old
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  Speaker 2: key We save a debate, it never stops it.
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