Dr Cullen told the Retirement Commission Symposium today people perceived compulsory regimes as saving on behalf of the Government rather than for themselves.
"There is a huge philosophical step associated with compulsory savings," he said.
"It is one thing to educate people about savings and to encourage them to save.
"It is altogether different to require them to save in certain forms."
He said a common thread ran through all compulsory retirement saving schemes -- they were designed not so much to replace the loss of earnings once people retired, but to replace the amount the Government had to pay to maintain an adequate retirement income.
"It is on this issue that compulsory savings schems have hit a wall of public opinion in New Zealand," he said.
Dr Cullen said a form of compulsory saving already existed -- national superannuation, funded by taxpayers.
"It is just that the compulsion is inter-generational," he said.
A compulsory savings scheme was last promoted by New Zealand First leader Winston Peters, and in a 1996 referendum more than 90% of voters opposed it.
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