tag:blogger.com,1999:blog-8268551755123531151.post7187967561989160530..comments2023-12-14T20:59:24.369-08:00Comments on Thoughts on the Roof: KiwiSaver - a messWilliam Hughes-Gameshttp://www.blogger.com/profile/06184766974497951683noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8268551755123531151.post-53263184392485976362009-05-26T21:45:59.607-07:002009-05-26T21:45:59.607-07:00Anonomous, I agree with much of what you say with ...Anonomous, I agree with much of what you say with regard to the importance of KiwiSaver to New Zealand and the huge need for us to save more. See http://mtkass.blogspot.com/2007/07/kiwisaver-good-for-new-zealand.html but unless I have missed something, all the money you put into KiwiSaver is taxed before you put it in. Forget about the employee contribution - it is a cruel hoax. Insofar as KiwiSaver makes you think that you are getting somethin for nothing while giving you nothing for something, I think it is a con.<br />AuthorWilliam Hughes-Gameshttps://www.blogger.com/profile/06184766974497951683noreply@blogger.comtag:blogger.com,1999:blog-8268551755123531151.post-78530525767023093422009-04-07T15:10:00.000-07:002009-04-07T15:10:00.000-07:00I believe your view is flawed - not the KiwiSaver ...I believe your view is flawed - not the KiwiSaver system. KiwiSaver has been hailed as an excellent scheme by economists throughout the World. True if you have saved money and put it in the bank you can withdraw it. Under KiwiSaver it is tied up until you are eligible to withdraw, but that is the benefit of superannuation savings - you save until you get to the age for retirement - not spend it when you feel like an upgrade on something. Also the KiwiSaver investment options are flexible and wide ranging, whereas putting the money into the bank locks you into the term you sign up for - under KiwiSaver you can move your funds around as you see fit. You emplyer contributions are actually better off going into KiwiSaver than as part of your salary or wages, as these deductions at 2% are tax free, so you get the full amount going into the fund, not have PAYE deducted when it goes into your pay packet. KiwiSaver is about helping New Zealanders for the long term - not about thinking about what it costs today. In general, New Zealanders are poor savers and we expect to get handouts when we don't sufficiently look after ourselves. KiwiSaver is a balances these two aspects and provides an excellent platform to start saving.Anonymousnoreply@blogger.com