Luxon: Kiwisaver is about setting people up for retirement, shouldn't mess with it

Chris Luxon says KiwiSaver is about making sure people are set up for their retirement and we shouldn’t be messing around with it.

The Government has u-turned on plans to impose GST on KiwiSaver fees, less than 24 hours after the proposal emerged.

He told Mike Hosking he’s seen the power of having a good KiwiSaver-type operation in other countries, giving them a good backbone for investing in the likes of infrastructure.

Luxon says it’s exciting we’re making progress with KiwiSaver and building domestic pools of capital.

But he says you don’t muck around with it, and you try to encourage people to do more investment in it, not less.

National has done its share of tinkering with Kiwisaver in the past, and was opposed to its establishment.

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