Make KiwiSaver compulsory and boost contributions to 10%

NZ and First leader Winston Peters outlined his plans for KiwiSaver in a speech made last September: “KiwiSaver will become compulsory. Both the employee and employer contributions will be increased to, in total, at first 8%, then later to 10%. But here is the difference. KiwiSaver’s and employers will receive tax cuts to cover the increases. And we are going to turn KiwiSaver into a serious New Zealand asset-owning entity.”