Cut to KiwiSaver Government contributions neither here nor there

“The Government halving its KiwiSaver contribution to $260 a year is not going to make or break deposits for first home or other house buyers.

It is not going to make a skerrick of difference for people on any level of income or change their attitude to KiwiSaver, says Hastie Mortgages director Campbell Hastie.

“Everyone has known right from the start of KiwiSaver that the extra little pickup in terms of the Government putting money in has probably been on borrowed time.”

However, he says there is little need for KiwiSaver incentives now that the retirement scheme is woven into the country’s financial and cultural fabric.