Key signals 'modest changes' to KiwiSaver

National's leader, John Key, says there will be "some modest changes" to the KiwiSaver scheme if his party wins the election.

Mr Key would not give any details today when he was questioned on TV One's Breakfast programme but he said nothing radical would be done.

More than 700,000 people have signed up to the scheme, which was introduced by Finance Minister Michael Cullen.

National's Taranaki-King Country MP Shane Ardern caused a stir yesterday by talking about it to a local community paper.

Dr Cullen, quoting from the report, said Mr Ardern had said the scheme needed adjusting "from the employers' contribution angle".

Under the scheme, employers contribute to the savings of their employees and are compensated by a tax credit.

The Government has always held suspicions that a National government would reduce employer contributions.

Mr Ardern has said he was misquoted.

Mr Key said Mr Ardern was not involved in KiwiSaver policy development.

"There won't be radical changes," he said.

"There will be some modest changes to KiwiSaver.

"We will announce that pretty soon."

2 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

2 Comments & Questions

Commenter icon key: Subscriber Verified

I guess it is a ploy of John Key to say nothing about anything. It is always going to be later. I just hope people don't switch off with this very low key approach.

Show some enthusiasm, some drive, some intention.

  • 0
  • 0

This problem with Key is: what are we voting for? What does National stand for ? He just won't say! Maybe he thinks the voters won't like it! If he thinks we're going vote for him blindly he's got another thing coming.

  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.6620 0.0078 1.19%
AUD 0.9183 0.0046 0.50%
EUR 0.5892 0.0084 1.45%
GBP 0.4333 0.0036 0.84%
HKD 5.1302 0.0596 1.18%
JPY 79.4450 0.7730 0.98%


Commodity Price Change Time
Gold Index 1147.0 11.620 2015-10-06T00:
Oil Brent 52.5 1.520 2015-10-06T00:
Oil Nymex 49.0 2.250 2015-10-06T00:
Silver Index 16.0 0.276 2015-10-06T00:


Symbol Open High Last %
NZX 50 5668.1 5677.9 5668.1 -0.32%
NASDAQ 4767.6 4783.4 4781.3 -0.69%
DAX 9968.6 10048.0 9902.8 1.15%
DJI 16774.0 16865.1 16790.2 0.00%
FTSE 6326.2 6386.0 6326.2 0.65%
HKSE 21884.7 22527.8 21831.6 3.13%
NI225 18168.2 18379.2 18186.1 0.75%