Greg Smith

We didn't expect KiwiSaver to be the main event by any means in this budget.

But yeah, that conversation is not going to go away.

And particularly when you look at, talking about New Zealand super, yeah, $25 billion.

It's one of the biggest checks the government writes each year.

Obviously, lots of talk around lifting the age to 67.

And look, that's for the government to decide.

But, yeah, that's going to go to $30 billion by 2030.

And then there's the conversation, you know, what form is that even going to be in, say, 10 years' time?

And Nicola Willis sort of did mention that.

So, yeah, from our point of view, we don't think there should be huge changes to – obviously a lot of people are calling for a rash of changes to KiwiSaver –

Automatically it's contribution rates and fund choice.

That's the biggest thing that matters.

Getting advice and making contributions.

We'd love to see a situation where those contribution rates are lifted further at a similar cadence.

As we've gone three, three and a half, four.

If we can get that sort of cadence and that sort of increase over a consistent period, presuming the economy can sort of withstand it, that would be a great opportunity.

If we got to six plus six, six from the employee, six from the employer, that takes us to 12.

We've come up to 20 years next year.

It took Australia 33 years to get to 12%.

Wouldn't it be so good to beat the Aussies in that sort of journey?