KiwiSaver numbers surge

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The number of New Zealanders in KiwiSaver has surged, following the employer contributions and tax credits that came into effect at the beginning of April.

Tuesday, April 15th 2008, 6:00AM

"The number of New Zealanders getting behind KiwiSaver continues to amaze," Finance Minister Michael Cullen said today. "Over 2,000 people have joined KiwiSaver every day in April – a huge response to the enhancements introduced by the government at the start of the month."

Cullen does not expect that pace to continue, but says it's safe to say skeptics who thought Kiwis would turn down the chance to save for their retirement were "dead wrong. New Zealand workers have turned KiwiSaver into arguably the most successful voluntary savings initiative anywhere in the world, and certainly a blueprint for other nations."

There are over 100,000 KiwiSavers under 25 and many more joining through automatic enrollment.

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