Here is what David Cunliffe said on 14 March 2014 about KiwiSaver:
“We will make KiwiSaver universal.
Every employee will contribute to their KiwiSaver account, not only ensuring financial security for New Zealanders in old age, but also making a significant boost to capital available for investment now. We have seen the success of this across the Tasman. I want to replicate that, and I know I am supported in that goal by many New Zealand businesses.â€ť
Sounds promising…compulsory Kiwisaver (that’s what universal means), but will every employee have to contribute? Â Well not exactly.
This is what David Parker said just a fortnight later on 28 March 2014:
â€śIt [compulsion] would apply to all employees, exempting only the self-employed and those with hardship, although very high earners with sufficient savings will also be exempt, Labourâ€™s financeÂ spokesman David Parker says.â€ťÂ
Interesting…the leader says one thing but the finance spokesman and deputy leader says something quite different.Â Read more »