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  1. #106
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    Nov 2018
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    Quote Originally Posted by Lego_Man View Post
    This quarter will separate the wheat from the chaff.
    Won't matter because nothing has changed. The whole Kiwi Saver is a money making scheme for the gov't and for the managers that charge their fees.

    The more compelling issue is how much will the NZ gov't put out to save businesses in NZ? When your neighbours around are losing their job and mortgages start going into default.. then we will see what's left.

  2. #107
    Dilettante
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    Mar 2010
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    Nelson
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    Maybe not for this tread but I find this worrying. If Government is going to free up early access to withdrawals from Kiwisaver will Government contributions also be returned or paid back ? Where will this leave the integrity of the scheme ?

  3. #108
    Member
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    Aug 2016
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    South Canterbury
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    415

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    My understanding is that if the request is for general, everyday hardship, there will be a limit and it will be paid out as a weekly amount only to help with basic costs. If the request is for something else eg: funeral costs, health related, the rules will be different.

    Quote Originally Posted by iceman View Post
    Maybe not for this tread but I find this worrying. If Government is going to free up early access to withdrawals from Kiwisaver will Government contributions also be returned or paid back ? Where will this leave the integrity of the scheme ?

  4. #109
    Member
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    Nov 2018
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    Christchurch
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    302

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    Quote Originally Posted by iceman View Post
    Maybe not for this tread but I find this worrying. If Government is going to free up early access to withdrawals from Kiwisaver will Government contributions also be returned or paid back ? Where will this leave the integrity of the scheme ?
    You mean to allow the working class to cash into their Kiwi Saver without penalty? Could not pick a worse time to liquidate holdings so I don't think that's a wise choice. IMO, I find the whole Kiwi Saver scheme adequate to meet people's retirement savings. 3% minimum matching by employers to employees? We're talking really small sums here. Then we have the is NZ Superannuation problem of underfunding (well depending on which view). My fear is the NZ won't be able to fund everything (as we've seen with extra pay over gov't services strikes, doctors / nurses, IRD, teachers, list goes on. So if you take the ultra long multidecade view, my concern is the NZ gov't will look to more aggressive means of bringing in more taxation to meet such inefficiencies in gov't social programs. When I 1st arrived to NZ, GST was 10%, then to 12.5%, then to 15%. Entitlements will erode, and the slow gradual erosion of our standard of living as we see the NZD currency get weaker in the coming decades.

  5. #110
    Dilettante
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    Mar 2010
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    Nelson
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    Quote Originally Posted by justakiwi View Post
    My understanding is that if the request is for general, everyday hardship, there will be a limit and it will be paid out as a weekly amount only to help with basic costs. If the request is for something else eg: funeral costs, health related, the rules will be different.
    Yes that's what I mean. We have a reasonable social system that deals with hardship and low income. I don't think Kiwisaver should be used for this full stop.

  6. #111
    Senior Member Valuegrowth's Avatar
    Join Date
    Jun 2013
    Posts
    1,163

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    Anybody any experience with CRAIGS. Are there any other Kiwisaver providers which allow us to pick companies (to create portfolio)? Thanks.

    https://craigsip.com/personal-wealth...stment-options
    CRAIGS KIWISAVER SCHEME INVESTMENT OPTIONS
    Create your own investment portfolio to suit your individual needs.

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