KiwiSaver + New Zealand Super
Labour's guarantee for your retirement
My complaint was simply that KiwiSaver is not government guaranteed as it is provided by a third party.
The Office of the Prime Minister argued that the ad was a statement of policy guarantee and that it does not suggest that the KiwiSaver scheme is 'government guaranteed'.
The majority of the ASA complaints board found that the ad was not clear that the term 'guarantee' was a reference to policy only. They commented that the linkage between NZ Super and KiwiSaver was likely to convey an impression of financial security that was guaranteed. Therefore the advertisement was found to be in breach of Rule 2 of the Code of Ethics.
The full ruling is available on the ASA website under the heading '07/314 - The Labour Parliamentary Party Website Advertisement'
The decision was released to the media on the 28th of August and it was reported in the Dominion Post and the Nz Herald on the 29th of August.
If you have ever contemplated complaining about an advertisement the process is incredibly simple. You can lodge a complaint online at the ASA via the online complaint form. All up the process took me less than 10 minutes. The ASA are very good. They send a letter to acknowledge your complaint and they tell you very quickly if your complaint will proceed further. Until a decision is reached and a judgment released you have to abide by a media embargo. You also waive any rights to take any additional action once a ruling has been decided.
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Welcome to Vuestar
Comment by sbiddle, on 31-Aug-2007 18:20
Good on ya!
Comment by Sarah, on 2-Sep-2007 23:50
Well done. Those ads really grate when they say "you can be sure of kiwisaver" - they're brand new and to tell me that in 20 years time it'll definately be around is wishful thinking... who knows what the world will be like. I'm expecting that kiwisaver will have evolved several times by then and something completely different. Hopefully with people's savings intact.
Me...? I'm sticking with property.
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