Providers split over election promises

The election campaign has exposed strong divisions between KiwiSaver providers over the best policies for the scheme and for savings policy overall.

Good Returns surveyed providers about KiwiSaver policies, as well as whether the retirement age should be raised, whether the government should re-start contributions to the New Zealand Superannuation Fund and whether there should be a capital gains tax.

A number of providers refused to participate in the survey but those that did unanimously supported raising the retirement age, a move Prime Minister John Key has ruled out but Labour has put on the table.

But Labour's policy to raise the age to 67 by 2033 is too timid for some providers, with one saying it should eventually be raised to 70 and indexed to life expectancy to provide for an average 18% of people's lives.