It's not often I can say I agree with politicians - especially two who are opposites
For some time now I have been watching this perception develop that KiwiSaver will morph into a compulsory super scheme in no time at all.
Indeed it was an underlying theme I took away from last year's Conferenz-organised superannuation summit which I chaired.
There Tower's Tony Hildyard even argued that KiwSaver would be a compulsory scheme before the next election.
These thoughts have been fuelled by a Herald poll and editorial which essentially argue the time is right.
Well it's all bollocks.
Kiwis have said for years that they want compulsory savings. Russell Hutchinson provides a useful take on this in his Moneyblog.
I have for years argued these poll results are meaningless.
Where I agree with politicians is firstly with this presser from National's Bill English where he quite rightly points out the Australian system is very different to NZ (low and tight state scheme along with payroll tax versus universal state scheme and voluntary workplace savings).
Secondly Finance Minister Michael Cullen has always opposed compulsion. His argument (which some from the right will struggle with) is that compulsion is interfering too much in individuals' lives.
But, yesterday, in Parliament he put up a good case.
My take on it is simple and pragmatic. KiwiSaver is here to stay. Learn about it and how to make money from the scheme.
Secondly don't get caught up in all this speculation about compulsion. It's wishful thinking.
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