Changes to KiwiSaver not helpful: Treasury

The comments are included in a Treasury paper titled ‘Making KiwiSaver more cost effective', dated February 18 and released yesterday as part of a wider release of documents relating to Budget 2011.

Under the sub-heading ‘Communication', the paper noted that there had been numerous changes to KiwiSaver since its launch in 2007.

"While each has been justified according to the economic and fiscal requirements and political priorities pertaining at the time, the overall impact is one of uncertainty and unpredictability which is not helpful or encouraging to individual savers."

The paper sought approval for KiwiSaver reform proposals from the Minister of Finance Bill English and Minister of Revenue Peter Dunne.