Kiwisaver

[Gubb]

Here I am, contributing 4% of my income every pay check to a saving scheme. Today I hear that if National get in, they'll cut the Government contribution, and Employer contribution to half of what it was. Aren't we supposed to be ENCOURAGING saving for retirement?

That's not what I fuckin' signed up for.

Shove your tax cuts up your bum, and leave the system as it is. I don't care if you are trying to encourage more people into it, there's 800,000+ people that seem to think it's not a bad idea as it is.

< /rant>

[Dargor]

or.. theres 800,000+ people that CBF opting out. Find your own motivation for saving!

[piston broke]

600,000 peep's that can't think for themselves.
i may have signed up if it was govt guarenteed.
sadly you are putting your trust in someone you don't know.
i hear ksaver lost more than 700mil last month

[Gubb]

or.. theres 800,000+ people that CBF opting out. Find your own motivation for saving!

...I have one, that's why I signed up.

[Dargor]

you found your own motivation, not the governtments motivation. thats great, why is it you want to play they 'tax me' - 'claim back' game with your money then.
Why not tax less, less middle man, save on your own.

[bobsmith]

I believe at times like this, (read: fairly unstable economic times with little growth) they're supposed to be increasing people's cash flow and encouraging people to spend to help the economy instead of the saving.

They're doing exactly what needs to be done from my little understanding of the economy.

[MIZXR]

Here I am, contributing 4% of my income every pay check to a saving scheme. Today I hear that if National get in, they'll cut the Government contribution, and Employer contribution to half of what it was. Aren't we supposed to be ENCOURAGING saving for retirement?

That's not what I fuckin' signed up for.

Shove your tax cuts up your bum, and leave the system as it is. I don't care if you are trying to encourage more people into it, there's 800,000+ people that seem to think it's not a bad idea as it is.

< /rant>

Why don't you try to save a decent amount and save 10% if it is such a good investment? or 50% or 90% and when you discover you havn't enought cash to feed yourself you can watch your stocks fall.


Are you too stupid too realise this is the bottom limit and can be set at what you want? You could even save more or change employers being that there are so many jobs according to your beloved labour.

So your not worried about your future savings disapearing on the stock market? 800,000+ people that seem to think it's not a bad idea as it is .........or where they forced into it?

[devnull]

Dude... they aren't juggling the figures because they want to fuck with your retirement plan... It's because the country is broke, facing a decade of debt, and they need to find a way of boosting economic growth.

If they can't get the economy going again, you won't need to worry about Kiwisaver, because you won't have an employer.

If Cullen had slashed taxes when we had huge surpluses, we'd be in a much better position now. But that didn't happen.

So we have to suck it up.

So many people (Cullen included), don't understand how these prosperous countries with a flat tax model can work.
But it's pretty simple - personal tax might only be 15% or so, but
the govt ends up getting a smaller slice of a bigger pie - they get a bigger tax take, and the workers win.

[EJK]

Go go my 8%

[Gubb]

Why don't you try to save a decent amount and save 10% if it is such a good investment?

4% from me, 4% from my employer, plus the tax credit. Works out to about 10%. Plus, you get other benefits, such as the first house money.

Are you too stupid too realise this is the bottom limit and can be set at what you want?

Yeah, that little booklet was so taxing on my poor little feeble mind. It couldn't possibly be that I have other debts to pay off first before increasing my payments.

according to your beloved labour.

Ahahaha. Good one. I'm certainly not voting Labour.

.........or where they forced into it?

Forced? Yeah, that's right, the "Great holding a gun against the head of 800,000 people in their living rooms night" i'd almost forgotten about that.

[kickingzebra]

600,000 peep's that can't think for themselves.
i may have signed up if it was govt guarenteed.
sadly you are putting your trust in someone you don't know.
i hear ksaver lost more than 700mil last month

Hmm, your hearing would seem to imply to don't take the time to research things for yourself...
Government guaranteed? there is a joke, what is any government going to do if the shite hits the fan on something the scale of the Australian super scheme? Governments can't afford to bail out that sort of thing.

Kiwisaver as a scheme is niether here nor there, but, ones alternatives to iwislaver, are to fund ones own retirement, remember, this needs to be inflation adjusted, and as close to future proof as one can manage. Factoring in such costs as disasters in financial markets, wars, etc etc etc, over the life of such a scheme, how much does one need to retire comfortably? Much less wealthily!

Or of course one could retire on government guaranteed super.... $250 a week to survive, any takers??

Kiwisaver as a grand scheme didn't lose 700 mil, as it is simply a vehicle to pump money into various open market initiatives via standard investment companies.

The vast majority of various individual kiwisaver schemes are facing negative growth, including Gareth Morgans own scheme... Right robin hood there with his "we are all going to die" sandwich board media releases.

However I do happen to know of one that is making positive growth in this very market, with some very reputable names behind it. Flick me a PM if you are interested, oh, and I am not selling the scheme at all, but I do know some good people, and ama great believer in finding and taking the BEST advice.

[mrchips]

Just like lambs to the slaughter.... being locked in for life & dumping your hard earned cash into the kiwisaver slushfund so that future governments can play around with it & change the rules on ya .......

I, along with 3.5 million other nz'ers say no thanks.

There's better ways of spending your hard earned cash, like...... cigarettes, alcohol, drugs, takeways, sex & upgrading your ride (not necessarily in that order)

[Waylander]

600,000 peep's that can't think for themselves.
i may have signed up if it was govt guarenteed.
sadly you are putting your trust in someone you don't know.
i hear ksaver lost more than 700mil last month

If that were true how could mine have gone from $6k to $10k in three months?

[xgnr]

Employers really love the thought of having to contribute... not

All our new contracts have the clause that you the employee will pay the employers contribution. Nice eh (oh and they will still pocket the govt tax subsidy to cover the contribution).

Enjoy the next coupla months gonna be fun

[NighthawkNZ:Me]

Employers really love the thought of having to contribute... not

Personally why should the employer be forced to contribute... most are already struggling to keep them employed in the first place...