One-third of MPs use Kiwisaver, report shows

Photo / Kellie Blizard

More than a third of all MPs take part in a KiwiSaver scheme, the latest register of pecuniary interests shows.

Of a total of 122 MPs, 44 MPs are in a KiwiSaver scheme, including 16 National MPs, 21 Labour MPs, five Green Party MPs, Hilary Calvert from the Act Party and Maori Party co-leader Tariana Turia.

The highest proportion of KiwiSaver take up in a party was from the Green Party, where five out of nine MPs have joined KiwiSaver.

Ministers in KiwiSaver include Gerry Brownlee, David Carter, John Carter, Hekia Parata, Chris Finlayson, and Simon Power.

The Government is planning on cutting the Member Tax Credit that it contributes to KiwiSaver, but it will not reveal by how much until Budget Day tomorrow.

It has justified this move by saying the scheme would be more sustainable if the Government contribution is reduced.

KiwiSaver has about 1.7 million members.

Progressives leader Jim Anderton, who was behind the push for KiwiBank, had shares in Commonwealth Bank of Australia, which owns ASB.

Prime Minister John Key yesterday could not remember if he was a member of KiwiSaver.

"I'm a member of whatever that Government scheme is that applied to members [of parliament] that came in in 2002.

"I think it might be [KiwiSaver] but I'm not 100 per cent sure."

The register shows that Mr Key has an "individual retirement plan".

Mrs Calvert said she only joined KiwiSaver because it "was a box to tick" when she became an MP, and she had no concerns about the scheme being re-jigged.

"We're living beyond our income. We just can't not tamper with anything."