Christopher Luxon, New Zealand Prime Minister 2023

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Forums › Politics › Christopher Luxon, New Zealand Prime Minister 2023

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#3504992 21-Jun-2026 11:28

quickymart: A policy announced this morning; if National get in again they're going to make Kiwisaver compulsory:

https://www.rnz.co.nz/news/politics/609851/national-to-make-kiwisaver-compulsory-if-elected

I don't understand some of that:

"The party would also automatically enrol babies, pay a government contribution to those on parental leave and make employer contributions for those over the age of 65 compulsory."

sounds like it will discourage employment of over 65's? can't be right don't know what they mean there..

Edit: I see..

"Luxon said many New Zealanders choose to keep working after 65, and at the moment employers were not required to make contributions after that age. National would also look to make employers maintain those contributions for employees over 65."

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#3504993 21-Jun-2026 11:29

quickymart:

A policy announced this morning; if National get in again they're going to make Kiwisaver compulsory:

https://www.rnz.co.nz/news/politics/609851/national-to-make-kiwisaver-compulsory-if-elected

That's a good policy. One we should have had years ago.

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Ge0rge

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#3504995 21-Jun-2026 11:38

"We're going to do this if we get back in!"

Ahhh, mate - you are currently in. Get it done now.

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#3504996 21-Jun-2026 11:45

Yeah. Promises and no action.

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#3505029 21-Jun-2026 14:26

Promises but no action is the title of the political almanac of the last two decades.

I still don't like the idea of Kiwisaver being compulsory. The tax treatment of it is morally wrong. The fees on most funds are too high and there is no meaningful competition or interventions to bring them down. And you're materially better off in a low-fee managed fund than a Kiwisaver product, which will still let you access your money.

Frankly fixing all of the above needs to be addressed urgently before we got snaffling up even more of people's cash and locking it up until they're 65.

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#3505082 21-Jun-2026 15:43

Ge0rge:

"We're going to do this if we get back in!"

Ahhh, mate - you are currently in. Get it done now.

The coalition is in, not National. They do t have the numbers to raise the age of eligibility for NZ Super or make KiwiSaver compulsory.

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Handle9

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#3505083 21-Jun-2026 15:44

freitasm:

Yeah. Promises and no action.

Would you prefer no election policy was announced?

Rikkitic

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#3505084 21-Jun-2026 15:48

Handle9:

Would you prefer no election policy was announced?

I would prefer it was phrased differently. This is what we would like to do if we could, but of course we can't.

Plesse igmore amd axxept applogies in adbance fir anu typos

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#3505085 21-Jun-2026 15:56

Rikkitic:

Handle9:

Would you prefer no election policy was announced?

I would prefer it was phrased differently. This is what we would like to do if we could, but of course we can't.

The three parties in the current coalition campaigned on the policies in the coalition agreement. As none had a majority then of course they had to take a bit of policy from each partner.

If anyone doesn’t understand how MMP works at this point that’s on them.

Rikkitic

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#3505086 21-Jun-2026 16:01

Handle9:
The three parties in the current coalition campaigned on the policies in the coalition agreement. As none had a majority then of course they had to take a bit of policy from each partner.

If anyone doesn’t understand how MMP works at this point that’s on them.

I know what a coalition is. I just think the issuance of lofty policy statements that can never be fulfilled is a bit silly.

Plesse igmore amd axxept applogies in adbance fir anu typos

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#3505095 21-Jun-2026 16:47

Rikkitic:

Handle9:
The three parties in the current coalition campaigned on the policies in the coalition agreement. As none had a majority then of course they had to take a bit of policy from each partner.

If anyone doesn’t understand how MMP works at this point that’s on them.

I know what a coalition is. I just think the issuance of lofty policy statements that can never be fulfilled is a bit silly.

So what do you suggest parties do?

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#3505107 21-Jun-2026 18:50

GV27:

Promises but no action is the title of the political almanac of the last two decades.

I still don't like the idea of Kiwisaver being compulsory. The tax treatment of it is morally wrong. The fees on most funds are too high and there is no meaningful competition or interventions to bring them down. And you're materially better off in a low-fee managed fund than a Kiwisaver product, which will still let you access your money.

Frankly fixing all of the above needs to be addressed urgently before we got snaffling up even more of people's cash and locking it up until they're 65.

If your employer matches your contribution on top of your salary (so not the total rem contracts where a contribution rate increase comes out of your take home pay) it's still probably worth putting in the minimum. There are not many investments that give you an immediate 100% return on everything you put in.

My hope is that when the super age eventually rises the age to withdraw Kiwisaver stays as it is so you at least have the option to choose to retire with your own funds. You've put in on the understanding that's when you can get it out so raising that too would feel a bit rough.

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#3505148 22-Jun-2026 09:45

GV27:

And you're materially better off in a low-fee managed fund than a KiwiSaver product, which will still let you access your money.

KiwiSaver is a great option, up to the max your employer will a match, unless you're employer operates a better private scheme or you're self-employed. Many private scheme don't require employers to match on bonuses. KS does. For a lot of people, being unable to access their KS is useful discipline.

I put a dollar in, my employer puts dollar in. Hard to beat that return.

Beyond matched contributions, I agree with you and I invest elsewhere.

KS should remain optional for self-employed people, though.

Mike

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#3505149 22-Jun-2026 09:47

Handle9:

The coalition is in, not National. They do t have the numbers to raise the age of eligibility for NZ Super or make KiwiSaver compulsory.

I'd expect Peters would support it. Possibly Labour would too.

Mike

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#3505161 22-Jun-2026 10:15

MikeAqua:

GV27:

And you're materially better off in a low-fee managed fund than a KiwiSaver product, which will still let you access your money.

KiwiSaver is a great option, up to the max your employer will a match, unless you're employer operates a better private scheme or you're self-employed. Many private scheme don't require employers to match on bonuses. KS does. For a lot of people, being unable to access their KS is useful discipline.

I put a dollar in, my employer puts dollar in. Hard to beat that return.

Beyond matched contributions, I agree with you and I invest elsewhere.

KS should remain optional for self-employed people, though.

With no employer contribution it's probably worth at least putting in the $1000 a year to get the government contribution. Even with the reduced amount it's still hard to beat that amount of guaranteed return on $1000.

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