Looking to their bottom lines, Kiwisaver providers came out in their droves this morning in support of the government’s plans to coerce more New Zealanders into Kiwisaver.
Milford Asset Management managing director Anthony Quirk said yesterday's announcement was positive. "The broader the [KiwiSaver] coverage the better," said Martin Lewington of Mercer. Tower Investments chief executive Sam Stubbs said he supported the move towards "soft compulsion." "This is a positive step forward, no question," he said.
Surprise, surprise. The government announces it intends to herd NZers’ pay packets in the direction of these suits, and the suits step up and agree with them.
By such deals are “grand political consensus” made.