Greg Smith

Coming up to a 20-year anniversary, a lot of people, we've got millions of people a lot better off than they would have been without KiwiSaver.

So let's applaud what we have before we start.

Yeah.

Using it as a punching bag.

I think the other thing worth remembering is that the government, as you say, did a lot a year ago, raised default contribution rates.

So that was a real huge step in the right direction from our perspective.

So we've gone from three to three and a half now, and then 2028, obviously, we're going to 4%.

That's awesome.

Those high default contribution rates are going to mean a lot of people are a lot better off in retirement.

We've seen about the gap between NZ Super and what people need to live even just a reasonable existence in retirement.

People are living longer as well.

There's all sorts of numbers bandied around.

you need to like, you know, from 65, you probably need a million dollars sort of minimum to get you through.

So let's say to get you through to sort of 90 with a reasonable sort of lifestyle, you know, sort of 40 to 60 grand a year.

So, and then again, then again, you own your own home where you're renting.

So that changes it as well.

You could be looking at one and a half million.

So lots of changes a year ago.

So I think you can sort of understand why a bit of taking stock

Now, we're not precious.