[Weekly Wrap] What to make of the Budget's KiwiSaver changes

Actually a little underwhelming.

One of the questions in my mind is where did these ideas come from. The financial services sector has been united in to review KiwiSaver and make changes. It was keen to engage with government and work through the issues.

Indeed former Commerce Minister Andrew Bayly had a review on his mind, but it seems there has been no review and little engagement behind the changes made in the Budget.

Not surprisingly the sector has welcomed an increase in contribution rates. And their voice has been largely united saying it was a move in the right direction but not big enough.