KiwiSaver

Every Cent of Super Fund Must Be Borrowed

Monday 23rd of July 2001

"The Finance and Expenditure Committee's report on the Budget and Economic Fiscal Update (BEFU) confirms Michael Cullen is going to borrow in order to 'save' for future pensions.

"This is absurd. A pension scheme financed by borrowing is no pension scheme at all. You cannot borrow money then claim that you are 'saving' it.

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