Matt McPherson

Yeah, we did some research recently where we used actual customer data and a model that is set out in legislation.

And what we found is that there's quite a gap.

that at the current contribution rates, there'll be around 55-year-old, 45% of people projected to fall below the minimum income and retirement level, if we're just looking at KiwiSaver alone.

Shezzy's got a long history of supporting kids into investing.

We've had special kids pricing, we do a lot of work at schools and cur and things.

We have over 100,000 kids accounts on the platform.

We also encourage people to take a really long view when it comes to investing and building wealth.

And this kids contribution that we are making in some respects is a very long-term investment for our KiwiSaver scheme.

So, you know, we believe by investing alongside our members that in, you know, say 15 or 18 years, the compounding value to Sharesies and to those people is kind of the

the timeline approach, the lens at which we've looked at this contribution in.

So it's an investment alongside our customers, and we encourage them to invest, but we're actually putting our own money into it too.

Probably the, I think there's the time to target to address inequality.

Inequality for children, you know, it gets amplified over life.

So the earlier you can make an intervention into that and try and put everyone on to a similar level is the more chance you have of addressing inequality, I reckon.

Yeah, again, we've done research into this.

Increasing contribution rates has a massive impact because those extra amounts of money compounded, invested over time have a huge tailwind come retirement.

But largely for people who are already going to be

close to comfortable, comfortable and more.

What increasing contribution rates does for people who have opted out, 40% of people at the moment who are members of KiwiSaver are not contributing at all.

So if you double the contribution from someone who's not contributing at all, there is no benefit to that person.