Survey backs work retirement scheme

A plan floated last year for a workplace retirement savings scheme that still allows workers to opt out has received strong support in a new poll.

The Herald-DigiPoll survey showed 71.2 per cent support for a workplace scheme where workers would contribute until retirement but with the ability to opt out.

But those polled were less enthusiastic about whether they should be able to draw on the savings for a house deposit or tertiary education, with only 51.1 per cent support.

The Government is planning a package in next month's Budget to help people save for retirement and home ownership, although the details are not yet known.

Asked to comment on the poll yesterday, Finance Minister Michael Cullen repeated the limited details made public so far on the Government's plans for the savings package.

A spokeswoman said assistance towards a deposit for a first home would be integrated into the Government's work-based savings scheme. The Government would put up separate proposals for tertiary education savings.

New Zealand Institute chief executive David Skilling said the poll suggested people understood that being committed to savings was important.

"The thing with much of the New Zealand savings debate is that there haven't been all that many worked-up proposals put on the table."

Act leader Rodney Hide said he was not surprised by the poll showing support for the proposal.

"We have always picked up good support for a decently designed savings scheme for individuals, but where people struggle is when you get down to the detail and that's where Winston Peters' scheme struggled."