O'Connell, Alison
August 2009
Social Policy Journal of New Zealand;Aug2009, Issue 36, p130
Academic Journal
KiwiSaver is the world's first national auto-enrolment savings scheme. So far only one other country - the United Kingdom - has committed to auto-enrolment on a national scale. Both schemes aim to increase the number of people saving for retirement, and they share many design features. However, there are significant differences in the way the schemes are delivered, with implications for the levels of choice, risk and cost for savers and government. The United Kingdom's personal accounts scheme, sizeable though it is, is only part of a complicated private savings landscape, whereas KiwiSaver is fast becoming the predominant vehicle for retirement saving in New Zealand. It offers a working model for countries seeking to create a simple and unified national scheme for lifetime saving.


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