Leave KiwiSaver alone: Commentator

Claire Matthews, of Massey University, said it was disappointing to see National proposing further changes to the scheme.

It announced last week it would  increase the amount of money available as a deposit subsidy to first-home buyers purchasing a new home, and allow them to withdraw their member tax credits as well as their savings.

Matthews said: “KiwiSaver has been in place for seven years now. Politicians of all hues need to accept it is good for the country, and recognise that it is designed to help New Zealanders prepare for retirement and stop trying to use it to achieve other objectives. When it comes to KiwiSaver, the key message to all parties is they should stop messing with it.”

She said first-home buyers who withdrew money for a deposit were disadvantaged in terms of their retirement savings.