ASB says KiwiSaver changes won't put investors off

by Jenny Ruth

"The scheme is such a good scheme, I think it will continue to see growth and new people joining," Park says.

He doesn't expect the changes will prompt many KiwiSavers to take a contributions holiday.

"As more and more people are exposed to it and start to see the benefits and, I guess, see their balances rise, it gives them a lot of confidence."

However, "generally speaking, people that are saving like to have a stable, consistent approach."

The increase in required employee contributions from 2% to 3% of earnings won't affect all ASB's KiwiSaver customers.

"There's a significant chunk of people contributing more than 2% anyway.

From that perspective, some of our customers won't be impacted by the increase."

Special Offers