New Zealand’s superannuation is no longer enough to live on for the country’s retirees. Research has found people need hundreds of thousands in savings to live a comfortable life after work.
But the KiwiSaver scheme, introduced in 2007 to encourage New Zealanders to build their retirement savings, continues to be a political football. Since its creation, there have been multiple tweaks to the scheme, threatening to undermine its core purpose: supporting New Zealanders in their retirement.
In late 2024, the government proposed changes that would make it easier for KiwiSaver managers to invest in private assets.