Dunne already backed compulsory KiwiSaver

3 News reports that:

Dunne backs compulsory KiwiSaver

United Future leader Peter Dunne has come out in favour of making KiwiSaver compulsory and Labour says National is now isolated in its opposition to the policy.

Mr Dunne, who is revenue minister, says attitudes have changed substantially since the 1997 referendum when 93 per cent of voters rejected compulsory retirement savings.

“Personally I have always favoured the idea and I believe New Zealanders are coming round to it,” he said in a speech to the Credit and Finance Institute today.

“I acknowledge compulsory KiwiSaver is not government policy, but the wider debate indicates an understanding of the importance of national savings.”

Mr Dunne says Kiwis have an increasingly mature and “real view” of the world, and how they need to prepare for their future.

And Labour’s David Parker chimes in:

Labour’s policy is to make KiwiSaver compulsory and finance spokesman David Parker says National is out of touch.

“After five years, KiwiSaver has proved a huge success,” he said.

“Expanding it to every employee will increase savings, which will help to grow our economy and reduce overseas debt.”

Mr Parker is welcoming Mr Dunne’s comments.

“One of the government’s own ministers clearly accepts the need for change,” he said.

Except that Peter Dunne has proposed compulsory Kiwisaver for some time.

Superannuation Policy: Dunne unveils radical 60 to 70 choice on superannuation; compulsory KiwiSaver
21 July 2011

New Zealanders should be able to take superannuation at reduced rates down to 60 or increasingly enhanced rates if they hold off until between 66 and 70, alongside making KiwiSaver compulsory, UnitedFuture leader Peter Dunne said today.

And on Twitter today:


I wrote to Mallard in 2010 asking Labour to support compulsory Kiwisaver – his reply: only if I could persuade National to.

Labour’s support for compulsory Kiwisaver very much Johnny-come-lately opportunism.

It’s good to see Labour join this support.

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