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Economists positive towards Greens' KiwiSaver idea

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Mon, 07 Nov 2011 8:27a.m.

Bernard Hickey

Bernard Hickey

Business commentators say putting KiwiSaver into the hands of the guardians of the New Zealand Superannuation Fund is an idea worth considering.

Although economist Bernard Hickey says there are some concerns around administration.

The NZ superannuation fund is really set up to deal with big chunks of money – they don't want to have deal with Joe Bloggs ringing up at seven o'clock on a Sunday night, going, 'I want to know what's happening with my KiwiSaver money,'" says Mr Hickey.

"You 'd have to have some kind of extra administration on top of that. The Greens are saying maybe IRD, or maybe Kiwibank."

Mr Hickey says the idea could save individuals tens of thousands of dollars in fees.

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Comments

08 Nov 2011 10:57p.m.

Brendon wrote:

Poeple if I had my way it would be a natlab government put all there ideas togeather and we would have a great country. Who ever gets into power let it be and work as one to get us into the black again no matter what it takes.

07 Nov 2011 07:03p.m.

Hippy wrote:

National are the Scrouge McDucks of the world. They should not be in control of our money.

07 Nov 2011 02:38p.m.

Hamish wrote:

Yes, NZ might actually get somewhere near being prosperous, if we can keep the penny pinching business peoples hands out of the purse. Labour keeps setting up super and savings schemes and National keep destroying them (the super scheme Muldoon devoured, the Cullen fund, selling kiwi bank).
And for those who think only National can manage money, why hav'nt successive National govts made NZ prosperous? Why do they always leave a deficit and not a surplus?
The short answer is greed and selfishness, they already have money and private savings, who cares about the rest of us.

Its time to think critically, who do you trust with your future? National have consistantly failed to look after anyones interests but their own.

07 Nov 2011 11:04a.m.

Longtack wrote:

And why on earth would the Greens not have some excellent ideas? After all, they are the most progressive party in NZ, and few are screeching rope-headed caftan-wearers. Labour has adopted their ideas while they were in power, and National has the sense to do the same.