Government eyes cuts to KiwiSaver contributions

[White trash]

Surprise, surfuckenprise.

So, "Here's a great deal to get you all saving NZ. We'll even contribute savings ourselves to make it more attractive and get you signed up. Then, we'll pull our contributions and you're all locked in with nowhere to go"

Nice.

[scissorhands]

How the hell do we trust them when they pull shit like that?

[oneofsix]

but wait there will be more. Wait until they tax you on receiving the payouts when you retire.

[MisterD]

Surprise, surfuckenprise.

So, "Here's a great deal to get you all saving NZ. We'll even contribute savings ourselves to make it more attractive and get you signed up. Then, we'll pull our contributions and you're all locked in with nowhere to go"

Nice.

When you accept one party's unaffordable election bribe, you have only yourself to blame if another party decides to bin it...

[avgas]

Anyone got a linky?

I would be surprised if they can pull out easily and we cant. I suspect that would require a law change - which means in the interim if they wanna do it, in theory so could we.

Or am I dreaming that our country doesn't have a corrupt government.

[oneofsix]

Anyone got a linky?

I would be surprised if they can pull out easily and we cant. I suspect that would require a law change - which means in the interim if they wanna do it, in theory so could we.

Or am I dreaming that our country doesn't have a corrupt government.

http://www.stuff.co.nz/business/mone...r-contribution

[Str8 Jacket]

Anyone got a linky?

I would be surprised if they can pull out easily and we cant. I suspect that would require a law change - which means in the interim if they wanna do it, in theory so could we.

Or am I dreaming that our country doesn't have a corrupt government.

The Govt of the day can and will do whatever they please. Remember - "we" voted them in.....

[avgas]

If they cut the $20 tax cut it would save $4b
..
no wait in the article it says...
Scrapping it completely would save the Government an estimated $660 million to 700m a year, but it may opt for a smaller cut by tighter targeting.

So that means less than 1/4 of the country is on kiwisaver????

[White trash]

So that means less than 1/4 of the country is on kiwisaver????

Well by estimation, half of the country are kids. So that's half the workforce. Pretty respectable scam if you ask me.

[Spearfish]

Did kiwi saver work out to be a bigger return than paying off a mortgage?.

I thought the only reason to sign up was the grand booster?

[avgas]

Did kiwi saver work out to be a bigger return than paying off a mortgage?.
I thought the only reason to sign up was the grand booster?

Average was -3% p/a last time I checked. So yeah without the $1K you would end up less in the hand in the long run.

[White trash]

Average was -3% p/a last time I checked. So yeah without the $1K you would end up less in the hand in the long run.

Well a mortgage is at least 6% in interest so assuming zero capital gain you're twice as worse off.

Fucks sake. Is there any way, for an average one income family, on a modest income in New Zealand to get ahead?

No?

Didn't think so.

I'ma have another bourbon and shoot some cans off the top of my fence.

[oneofsix]

Well a mortgage is at least 6% in interest so assuming zero capital gain you're twice as worse off.

Fucks sake. Is there any way, for an average one income family, on a modest income in New Zealand to get ahead?

No?

Didn't think so.

I'ma have another bourbon and shoot some cans off the top of my fence.

Of course the average guy/gal can't get ahead, it's not the capitalist way you got to be a shark to get ahead.
We when you retire, because you didn't pay off the whole mortgage and you haven't got Kiwisaver the bank forecloses. So now you have no money and no where to live.
pass the Bourbon.

[Hopeful Bastard]

How the hell do we trust them when they pull shit like that?

Easy. Dont get KiwiSaver

Im Opting out of it as we speak. Thankfully, I been in a new job in the 2 - 8 week period

[p.dath]

Surprise, surfuckenprise.

So, "Here's a great deal to get you all saving NZ. We'll even contribute savings ourselves to make it more attractive and get you signed up. Then, we'll pull our contributions and you're all locked in with nowhere to go"

Nice.

What part don't you get? We are in a recession. We are on the verge of having a credit downgrade (which means the interest cost for the loans the average NZ'er has will rise). We have had a major disaster.

The country needs to drastically (and I mean drastically) reduce its expenditure.

And you do realise it is a "retirement" scheme - for your retirement? Not a savings scheme, for when you feel you need the money?


And you do realise the "contribution" the Government is making is from money *you* have already given in taxation? Don't think of it is a "contribution" but as the Government making you do a forced deposit.