Greens KiwiSaver policy nice idea but...

The crux of the plan is to introduce a seventh default fund to the mix, which they call the Public Option, and have the money managed by the NZ Superannuation Fund. In addition to this the administration would be provided by either Kiwibank or Inland Revenue.

The details of the policy are a little scant at the moment. However it appears to be predicated on the NZ Superannuation Funds' performance and Kiwibank's track record in challenging the big Australian banks on price.

The policy sounds good and resonates with this view that KiwiSaver fees are too high. Co-leader Russel Norman says "KiwiSavers' nest eggs will be significantly higher, up to $142,000 higher in some cases ($64,000 in today's dollars)."

The issue of fees is certainly something which all the main political parties want to look at. Our view is that yes working out how much people pay in fees is difficult. Yes they are an important part of how much an investor really makes. And there is lots of variation.