In good faith, many workers try to build up their KiwiSaver account, often at considerable sacrifice. Many were dismayed when the recent Stockmarket slump shaved thousands off their fund. A workmate of mine, who was very proud of her balance, said quite accurately, “They’ve stolen my hard-earned money.”

Don’t worry , we are told, the markets will recover. Well, maybe, maybe not. But no one asks the basic question, “ Why should our retirement security depend on the vagaries of their markets in the first place?”

What the ideologues at the NZ Institute ignore, or cover up, is that all pensions are not a grant, but an entitlement. They are just deferred earnings, part of the value that workers create through their labour, that the state or the employer holds back to – perhaps- pay out later. That’s also why it’s a lie to say that superannuation will be a burden on future generations. We have already paid for it. As Marx said, “Each generation pays for its own wars.”

Originally the govt contributed a greater share but this was whittled away by the Key Regime. Labour need to put that right. The higher the subsidy the greater incentive there is for workers to save to gain the subsidy. Its a perfect election bribe for Labour.

Muldoon got in with massive backing from CIA (Hanna-Barbera) running the communist scare of a superannuation system where individuals contributed to their accounts held by the NZ govt so guaranteed.
The last thing banks wanted to see was people investing in their country. In a matter of months the govt had accumulated substantial capital held by citizens and it was obvious that Govt borrowing would be a thing of the past.
A whole new framework where citizens owned the show not private off shore banks, If that excellent scheme had continued then NZ would have been well heeled and capable of lending for profit to other states.

But the yanks were not going to have that so McCarthy was dragged out of the cupboard and the Cossacks danced on the TV screen accompanied with lies and scare tactics.

Cullen was “allowed” to bring in Kiwi Saver as Kiwis money was given to private fund managers to play with and charge “management fees” for the privilege. . When the gambling is over and the coming financial crash comes then Kiwis Saver’s money will be gone.
A rort disguised.

Kirk’s scheme was govt backed.
Kiwisaver is not and the money contributed by the govt is given to fund managers to gamble with.

There should be a Kiwi Saver fund owned and run by the NZ govt with guaranteed backing.

Who’s the German dude in charge?
Why is a German dude running the New Zealand Institute?
Is this a FFS-forehead- head-slap moment?
Would this be like John Palino and Luigi Wewege running the Auckland Council as mayor and mayor’s henchman?
Who pays for the light bulbs, wages, fax machine and suits at the NZ Institute?
Follow the money and the influencers? Did you know that effluent and influencers have no acronymic correlation?
How does one access the tax records and funding of the New Zealand Institute Nicky Hager?
Who pays Mr Zippy and the taxpayers coalition?
How does one access the tax records and funding of the Taxpayers Coalition Nicky Hager?
I need a new book to read just before the election Nicky?
Probably enough for a couple of books, or a book and a sequel, or a sequel and a prequel Nicky?
Follow the money and the influencers? Did you know that Zippy and Williams have no acronymic correlation?
So many questions, so little time before the election, but there’s got to be a whiff, a National Party dirty politics mephitis.