Monday, August 16, 2010

On Kiwisaver being compulsory.


The worry is that Kiwi saver in private finance company hands may become like company super schemes in the 70's and 80's.
The fact that most of them performed miserably, except for enriching fund managers, was hidden by the tax rebates and employer contributions.
The fund management industry will be fizzing at the idea of this windfall.

A sovereign fund investing in NZ infrastructure would help make our kids able to support pensions.
And allow the money to extend Kiwibank to remove the overseas sources of finance from the equation.

 Hell we may even get back control of our country from the banks.

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