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National Proposes Compulsory Kiwisaver
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Executive Summary
AI-generatedThe National Party proposes several changes to KiwiSaver, including making contributions compulsory for all employees starting July 1, 2028. Other proposed measures include providing a $1,500 account for every baby born from July 1, 2027, and extending matching employer contributions for those working at age 65 or older.
Key Insights
- KiwiSaver would become mandatory for employees starting in 2028 under the National Party's proposal.
- A new $1,500 KiwiSaver account is proposed for every child born from July 1, 2027.
- Employer matching contributions to KiwiSaver would be extended to workers aged 65 and above.
- The estimated annual cost of these changes is $360 million, funded by future Budget operating allowances.
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