NZ First ‘KiwiSaver generation’ good policy – but will it happen?

And while the industry supports moves to get kids investing earlier, not everyone is convinced the policy is the right way to do it.

Leader Winston Peters said his party wanted to see an automatic and immediate Crown contribution of $1000 to New Zealand citizens signing up at birth, for what he said would be the “KiwiSaver generation”.

He said universal birth enrolment would ensure every child began their financial life as a KiwiSaver member, with a meaningful balance already growing on their behalf.

The policy would run in tandem with NZ First’s other proposal, to make the scheme compulsory for the wider workforce and increase employee and employer contributions to 8 percent initially and eventually to 10 percent.