KiwiSaver enrolments hit 130K

The latest enrolment numbers for KiwiSaver confirm that the work-based saving scheme is off to a strong start, Finance Minister Michael Cullen and Revenue Minister Peter Dunne say.

Friday, August 31st 2007, 7:46AM
Total enrolments received by Inland Revenue had reached 129,591, with 5,900 opt-outs also received.

"It is encouraging to see that just two months since the launch of the scheme, almost 130,000 people are already saving for a better standard of living in retirement through KiwiSaver," the ministers said.

The ministers provided details of how that 129,591 enrolment figure can be broken down:

The ministers noted that the figures include numbers of employees who are automatically enrolled in KiwiSaver who have eight weeks to opt out, so that could potentially affect the total.

"These figures are heartening, but they are just the start," the ministers said.

"We'll see them continue to rise as people realise the value of saving for retirement – especially when, subject to legislation now before Parliament being passed, compulsory employer contributions to KiwiSaver start next year."

« ABN AMRO Craigs launches new superannuation initiativeResponsible investments for KiwiSaver schemes »

Special Offers

Commenting is closed

www.GoodReturns.co.nz

© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved