Latest News: A Kiwisaver expert is hailing changes to the scheme made in this year's budget

Jonathan Eriksen was recently featured on Newstalk ZB with Mike Hosking providing insights around the new updated KiwiSaver changes.

With the new update, 16 and 17-year-olds will now be eligible for Government and employer contributions. As a KiwiSaver expert, Jonathan Eriksen explained “getting people to start young will bring benefits.” With the government contributions being extended to a younger cohort - more Kiwis will be able to start their savings journey earlier. Hopefully, this change will encourage more people to plan earlier for retirement.

However, the annual contribution cap by the government has been reduced to just over $260. On the employer side, the default employer contribution rate will increase from 3% to 4% over two years. This a step in the right direction — and we’re proud to be doing more. At EriksensGlobal, we’ll be increasing our own KiwiSaver match from 5% to 6% over the same period. Every increase in contribution counts - allowing funds to accumulate for a longer period of time will help people plan better for retirement.

KiwiSaver still lags behind Australia’s super system — but employers don’t have to wait for policy to catch up. If you're keen to explore flexible super options and discounted insurance for your team, let’s talk.