KEY POINTS:
Here is an earlier selection of Your Views:
James
I signed up to kiwisaver online with a provider weeks ago. I've used the IRDs 0800 Kiwisaver number several times (you get through immediately after entering your IRD #). I know of employees being discouraged by employers not to sign up and withholding information. There is no need to receive a pack from your employer. Get up, move and inform yourself!
MR Auckland
I would be interested in Kiwisaver but due to the lack of information I cannot make an informed decision. I have called service providers and despite a guarantee of an investment pack being sent to me I have not received anything. Being an immigrant I am not sure how the system works and the more information I can get would be better. Considering that this is supposed to start on 1st July and I have not yet received any information 2 days before, I think the government has done a very poor job with the provision of information.
Robert (Palmerston)
New Zealand is truly a place of hysteria these days. Do people want the government to spend 50 million dollars sending pamphlets to everyone in New Zealand and much more on more advertising in the media. The best thing about this policy is that lazy people who refuse to spend an hour reading up on what to do will not be getting the tax benefits / help with their retirement. I only wish that those on benefits were also excluded if they fit the lazy criteria. Oh well, at least my partner and I are sorted.org
Rob (Auckland)
Given the scale of the exercise and the short time frames available there were bound to be glitches in the early days of Kiwisaver and the Herald was bound to be there to put the most negative possible spin on them. Kiwisaver is one of the most momentous political initiatives in NZ for many many years. It will be of enormous benefit for the country as a whole and for the individuals who sign up for it (irrespective of your political leanings). If you can afford to give up 4 per cent of your income you would be extremely foolish not to sign up. All the information you need is readily available on the internet (try www.sorted.org.nz for example) and in Mary Holm's excellent 3 part guide published in the Herald a while back. It can be very frustrating reading this site at times as it seems to be populated by an alarming (for NZ as a country that is) number of inarticulate, whinging muppets who would do well to grow up and take some responsibility for themselves instead of looking for every opportunity to moan about the government.
Helen
Chaos ? I think not - yet another media lead misinformation tactic - nobody is 'missing out'. If the Herald and other media organisations would just report the facts instead of sensational headlines it would be a fine day in paradise! Somebody ought to inform Margot that the money is yours honey, and if you don't want the free $1000 and the tax credits then I am happy to take them off your hands. I am all for Kiwi Saver - at last the Government has made one bold move in their eight-year-reign. Now, how about the housing market fiasco!
Jarvis
What a pack of whingers! We've got all the information and forms we require for our business off the website and in the mail from IRD. Our staff have read the info and decided and we're ready to go next payday. Instead of whingeing, perhaps some of your complainers should get off their arses and do something about it. Besides, it's not compulsory on Monday - people can join anytime they want.
Richard
Is it really that difficult to connect to the well-publicised website kiwisaver.co.nz and download all the forms and booklets that you need? It would in fact be quicker to do that than write an email to report your views to this website! Some people just want to complain and are naturally distrustful of the government, even when they are offering you money for nothing, it seems. If you are still confused about the basic workings of the scheme, perhaps it might reflect a lack of responsibility on your part. Reading the newspapers and websites, which are very clear, might have prepared you better. Surely some of the blame for your ignorance lies with yourselves, doesn't it?
Mohammed Quadri
Great savings scheme but unfortunately targeting high earners in terms of tax benefits and not suitable for average earners with average debt of at least NZ10k and therefore supporting the idea of rich becoming richer and poor remaining poorer. It will be financially good for average earners to pay-off their debt like CCard etc, faster rather than save for long-term. Great Michael Cullen and Mrs Clark but at the wrong time for the wrong workforce!
Accountant
IRD had advised that all employee pack's were sent out by last Friday. However we held a client seminar about Kiwisaver this Wednesday and held about 90 employers attend. Less than 10 employers had got any employee packs!
Kath (Wellington)
There's heaps of information available on the internet (& has been for a while). I've had no trouble at all in finding out what I need to know from the internet, IRD and scheme providers, even though my employer hasn't exactly gone out of their way to help. Maybe people should just stop whingeing and help themselves (the Government's trying to give you a handout, you drongos!). The Herald's misleading headline doesn't help, I might add.
Save us from Kiwisaver
Typical socialist government. Not only do they spring it on employers that we have to fork out for employees private savings, but they can't even get it organised on time! Not one of my four businesses has received the promised information. Great job Cullen!
John
With many years proven experience on just how untrustworthy they are, only an absolute fool would trust the Government. The current mob are probably the least trustworthy of the lot and already there is talk of KiwiSaver changes from almost every party. What you can guarantee is that the current rules, which are substantially different than those originally proposed by Labour, will be changed many more times before most people are eligible to any benefits. Changing the tax rules on long term savings would be far more successful than KiwiSaver could ever be and at least then savings could be protected and secured.
Relic (Whangarei)
How is this compulsory savings scheme any different from the super schemes of bygone days? Way back under the Muldoon government, I was enrolled in a super scheme which was supposed to be added to by the government. I saved approximately 20 per cent of my wages each week into this scheme and lost the whole lot with uncle Rob's think big scheme. Now I am being asked to risk my cash under a Labour government. C'mon why should I even consider KiwiSaver? I am now on a invalids benefit and I do not have any extra cash that can be saved, Where do I get the money from? Today's benefit although enough to live on does not allow any luxuries and certainly does not keep pace with inflation. Fuel, electricity, water, Food and clothing to name just a few items have increased in price regularly, but my income remains the same. KiwiSaver is not going to happen for any beneficiary simply because they can not afford it. Had the government give a tax break to the lower class, then KiwiSaver may have been a good idea.
Debra (Auckland)
I think it's great and about time. I need all the help I can get to save money. At least it's something so why the hell not?
Ian Morine
Nice to see all the National/Key supporters have come out of the woodwork in full force to give their "unbias" opinions on "KiwiSaver". Look what happened the last time a Labour Government tried to implement a nationwide savings/superannuation scheme - the following Muldoon National government came along and abolished it (and took everyone's money to boot and therefore made sure NZ would never have another compulsory scheme in NZ!) Just imagine how wealthy our "comrades" would be now in 2007, if Norman Kirk's scheme was allowed to continue and mature from the early 70's to this day. We certainly would not have the dreadful situation we are now in, with the "right-wing" (Douglas) Reserve Bank Act that has curbed our growth rate since 2000 to mediocre levels. Instead of growth rates of 8-10 per cent, we have had 3-4 per cent because of "right-wing" policies installed in the mid-eighties! Instead our "comrades" have been spending, rather than saving their paypackets for a secure future. Just goes to show how short-sighted, narrow-minded the National supporters are when it comes to our future financial security - the "proof of the pudding is in the eating" I say - and that's not just opinion!
Ross (Wellington)
The article was of no surprise to me. We only received our employer guide within the last few weeks and the employee guides after 25 June. Even then we only received enough for 8 per cent of staff - not the minimum 40 per cent claimed to have been sent by IRD (despite having requested more!). Many employers/employees will have lacked sufficient detail/knowledge to give their staff the chance to join effective 1 July. We were better prepared than most having sourced electronic employee/r guides from involvement with a KiwiSaver product provider. The inability for IRD to give accurate timeframes for delivery of information/guides and their inability or preparedness to answer technical questions did hamper us. IRD not being able to receive upgraded KiwiSaver compliant payroll EMS files before 1 July places pressure on payroll functions, especially those on weekly or fortnightly cycles. I am not surprised that some employers are struggling to process staff opting into KiwiSaver initially.
George
Without making it big news in the front page that there is a 'chaos', why not publish the relevant web page address where anybody interested will get the info. Believe me, this 'forced' saving will be the only saving left behind for many when they retire. The Herald articles are promoting to reject this scheme as this proposal came from Labour Government. 'Herald' very well knows that the average employee will like it on long run, as it is happening in Australia where a minimum of 9 per cent of your salary goes to the super scheme compulsorily.
Bruce
I'll provide for myself thanks very much! As a self-employed person I know that you can join KiwiSaver, but who would bother. The analysis I've received indicates very strongly that you're better off paying your mortgage than join KiwiSaver. If you already make provisions for savings you're better off putting any extra into that scheme rather than start a KiwiSaver from scratch. KiwiSaver is a bribe from Helen Clark's Government aimed at people in their 20s without savings or property. It annoys me greatly that people who have been doing what the Governments is bribing others to do get no reward
Margot
You would have to be a mug to voluntarily give the Labour government even more of your hard-earned cash. They have weaselled enough out of hard working Kiwis as it is. Not accessible till you're 65? Does anyone really believe it'll be there then? This is a wolf in sheep's clothing - mark my words.
KiwiSaver Keen
Have people not heard of the internet? All the information required is available and well presented on the various interlinked websites. I spent about 1 hour going through the available data and then printing off the IRD form for my wife who is joining up. I am already in a company scheme so it's not for me but I was very happy with the details available on the web.
Andrew
After reading this I don't feel so bad about how little I know! There are some out there who have no idea, and could be missing out on something that will help them. I have two jobs; one employer has been awesome in providing packs, telling staff what they have learned and providing website links so we can also do our own research. The other employer has not even mentioned it, handed out packs, or anything whatsoever! If you're reading this then you have a computer, why not go to the KiwiSaver site and read it all for yourself like I did? www.kiwisaver.govt.nz
It's your money, your tax 'rebate', and your future, take 5 mins and read it. If the boss gives you grief for 'surfing' tell him why you're looking at it and remind him that he/she should have given you information.
Clive
If the Government has implemented the KiwiSaver scheme, on what basis do they want the people of New Zealand to save and how can they save with the rising petrol prices, mortgage interest rates and from where will the average person chip in 4 per cent from their salary if they get paid less, how will they survive for the week? Michael Cullen does not think of all these things - just implements. The salary does not increase that much every year. Before implementing Cullen should stop and think of the normal New Zealand who are earning $14 an hour and have a mortgage and pay for the kids day care and the rising fuel prices from where will they be able to join the KiwiSaver. I don't think it's a good scheme and I am not interested in joining the KiwiSaver. I hope Michael Cullen does join in the KiwiSaver it will help him for his retirement days.
Ray Eyre (Whangarei)
Am I ready for KiwiSaver? Nope and I will never be ready. I do not trust the Labour Government in anything the say or do. What would happen if National got in next election? Would the subsidy stay? Would they alter it to suit their needs? Would the whole deal still exist? Nope I'm not ready and I'm not interested in any compulsory savings scheme. We have been over legislated and over ruled for far too long. Chairman Clark has already backtracked on so many of her election promises. Do you trust this kind of politician? I sure as hell don't.
Self-employed (Wellington)
All the focus has been on how KiwiSaver affects employers and employees. There's been no information for people who are self-employed - a growing and important part of the workforce - apart from the odd reference in various commentators' columns.
Arron
I am not opposed to the idea, but don't know how to do without 4 per cent of my salary after this bloodsucking lefty government sucks my pay packet dry every month. Maybe with more realistic tax brackets (or even better a fairer flat tax) I would contribute. Plus I don't want to be part of anything that little Bolshevik Cullen thought up.
Concerned employer
We ordered 100 packs for our employees and future employees. 40 per cent of our workforce would be 40 packs - we received 5 so are unable to give them to all who are asking.
Jo J
There appears not to be a lot of information about KiwiSaver. My employer hasn't even mentioned the scheme! How do I know what is best for me? I struggle to make ends meet now, believe me we do not live the high life! I cannot afford to buy my own house but have owned one in the past under different circumstances so from the little I have gleaned the option to put funding into my "first home" doesn't appear attractive to me. I already save each week a portion of my wages and are unsure whether it would make me a "pauper" now to save more. There should have been pamphlets sent to peoples homes not left to the employers to give them out. It appears that the fact "employers" will have to contribute in the future may be making some reticent at informing their workforce, hoping few take up the offer, so they contribute less.
Susan O'Neill
After long and careful thought, I have decided not to join KiwiSaver. There is not enough information regarding this, there is absolutely no Government guarantee as regards to safety of your money, no guarantee it won't be tweaked over and over again. The worst part is that people who already have a good superannuation scheme, will not be eligible for the weekly $20 subsidy from the Government. Why did they not give this to everyone who has the gumption to join a super scheme? I think the start date should be delayed until there is some sort of proper consensus on the future of KiwiSaver, remember most of the eligible provider companies are overseas companies and there is absolutely no guarantee that they will still be in existence by the time you come to retire anyway.
Deb
We received our pamphlets last week. Our employers are on holiday in Europe until the end of next week. The timeframe is too short to digest and process.
Kristina (Morrinsville)
It seems that IRD are nowhere near ready for the 1st July kickoff for Kiwisaver. Employers were advised that they would receive necessary forms mid-June however, 2 different businesses received their information packs on the 27th June, a whole 2 weeks later than advised. From what I've seen, those superannuation scheme providers who have become Kiwisaver compliant, have well and truly passed Inland Revenues competence in setting up and being ready for the launch date.
Sam
Cullen has totally stuffed this up. What could be so good and so easy has been turned into a complex nightmare for employees and employers alike. Maybe Cullen should listen to companies for a change.
Brandon (Auckland)
I'm keen to join Kiwisaver, but where is the information from the scheme providers? Who knows what their investments are, what the fees are, how much it would cost to switch providers and so forth. Until this information becomes available it's impossible to make an informed decision!
Paul (Christchurch)
This Kiwisaver scheme is like asking people to vote and not sending out any information. Not even a formal article in newspapers to give Joe Bloggs any clues. What's wrong with sending an envelope to every home, or if they can't afford that putting information in the libraries? Surely anything would be better than nothing. If this is the kind of half-a**ed stunt Labour's going to start pulling then they won't be getting my vote next time, simple.
Jai (Hawkes Bay)
Quote - "We sent enough for 40 per cent of their workforce, which gave enough for new employees and an initial number of existing employees interested in joining KiwiSaver." What a joke! Our company has anywhere between 50 and 250 staff members from month to month and we got 1 employee pack. Not really going to go very far is it?
Auckland Eddie
I have been on ACC for 10 years plus (I guess it's a Government department) and have not heard a thing from ACC about joining the Kiwi saver scheme. You would think they at the very least would have made some kind of contact, is it the same for others stuck within government departments?
Julian Smith
There is plenty of Kiwisaver information available on the Govt's website www.kiwisaver.co.nz. If there is really "chaos" due to inadequate information then perhaps it would be helpful for the Herald to provide the website address. Also, the IRD website has all the forms and guides for download.
Cooperhmc
This whole process has been managed poorly from start to finish. The company which I work for (as an HR/Training Advisor) ordered packs well in advance. As we are a sizeable company, we requested 600 packs. So far we have received 5. As of today, Friday 29th June, we STILL do not have our 600 packs ordered and have a growing waiting list for existing staff members, not to mention the new people that we have starting in the next week or so whom it is compulsory to send packs to. At every turn we have been met with misinformation and frankly, untruths. Having been told last week that packs had been generated and sent to us, we were led to believe yesterday that they had, in fact not been sent and they would do their utmost to get them to us. During the many phone calls between us and the IRD, We have had all the excuses from blaming Michael Cullen for changing things at the last gasp in the budget to blaming NZ Post for "sitting on them" in some distribution centre somewhere in the North Island. And now I read that the interfaces between the IRD And the providers are not ready either. Why oh why did they not put the start date back to a date where they could deliver?
Sheldon Heights
SO typical of the Government - they say this is a great plan but are not fully disclosing all the details. Ask you financial advisers if everything has been finalised - they will say no. We will all sign up and then find out later what the details are - the devil is in the detail. Anyway, this sounds like the Anti-Smacking Bill. They said that parents who "smack" their kids in a correcting or non threatening manner have nothing to worry about, but then after the bill is passed we are not told that the police will take down names of parents when onlookers call the police to complain. Again this detail was overlooked when they talked about this before it became law.