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Thread ID: 80774	2007-07-04 22:48:00	Kiwisaver form employers give you don't let you choose....	lance4k (4644)	PC World Chat

Post ID	Timestamp	Content	User
565866	2007-07-04 22:48:00	Is this the form your employer gave you to enrol in kiwisaver: www.ird.govt.nz There is nowhere on this form to choose a kiwisaver provider. So if you fill out this form that your employer gives you,are you just given a random kiwisaver provider?	lance4k (4644)
565867	2007-07-04 23:16:00	That's just the deduction form. It seems that choosing a particular scheme is a separate process. www.kiwisaver.govt.nz "Your contributions will be held by us for the first three months to give you time to get financial advice and choose your own scheme if you want to. After three months, if you haven't opted out or chosen your own scheme, you'll be enrolled in the scheme you were allocated to. Your contributions will be paid, with interest, to the scheme. The $1,000 government kick-start and first $20 fee subsidy will be paid into your scheme account at the same time."	PaulD (232)
565868	2007-07-04 23:16:00	I think the idea is that you appy separately to the provider of your choice and when you are accepted they advise IRD where to send your donations. That wont be until October tho...	Sp00n (9907)
565869	2007-07-05 12:24:00	why can't they just give us a tax cut? it would be alot easier, not burden employers, and wouldn't require money to continue running it :groan: it's just a bribe and an excuse to cut superannuation in 30 years time when 25% or people work and the rest are either retired or cruising on by the doll/benefits	motorbyclist (188)
565870	2007-07-05 19:41:00	why can't they just give us a tax cut? it would be alot easier, not burden employers, and wouldn't require money to continue running it :groan: Because people like to spend money received in tax cuts, or even include it when applying for another loan, thus pushing up inflatiion etc which in turn leads to paople bitching that the inflation rate has gone too high and its the governments fault anyway. This way, you get extra money (from the governments yearly contribution via tax credits) and save for your retirement (although the super scheme is highly likely to be around in later years, how much will it be? $100 per week?). The only catch is it is locked up so you can't touch it (except to help pay off the mortgage on your first home later on in the scheme)	Myth (110)
565871	2007-07-05 20:08:00	I raised this question with the IRD last week and was advised that it is up to the individual to notify the IRD, in writing, of the chosen scheme provider. Why couldn't they just add one more field to the form?????	andrew93 (249)
565872	2007-07-05 20:43:00	irrespective of where your money is invested (either with a default provider or a provider of your choice) if you don't like the returns you are getting you are able to move your investment from fund to fund and from fund manager to fund manager. So although it is locked in until retirement the saver has a high level of control over how safe or volatile their investment is.	theother1 (3573)
565873	2007-07-06 06:26:00	Because people like to spend money received in tax cuts, or even include it when applying for another loan, thus pushing up inflatiion etc which in turn leads to paople bitching that the inflation rate has gone too high and its the governments fault anyway. man i hate people	motorbyclist (188)
565874	2007-07-07 00:41:00	why can't they just give us a tax cut? it would be alot easier, not burden employers, and wouldn't require money to continue running it :groan: it's just a bribe and an excuse to cut superannuation in 30 years time when 25% or people work and the rest are either retired or cruising on by the doll/benefits My understanding was that it's a desperate attempt to ensure people mostly pay for their own retirement. With the population getting older we face a situation where the government will not be able to keep up at present tax rates unless people become more self-sufficient in retirement. Why should the new generation face the prospect of even higher taxes simply because a large chunk of the population suddenly starts to retire? The government is willing to spend money now in the most effective way it can come up with to alleviate future problems. If you can work out a scheme that better approaches the problem, why not write it down and send it to your local MP?	TGoddard (7263)
565875	2007-07-07 11:46:00	that's why i said it was an excuse to cut super in the future. they are spending now rather than saving themselves and spending later, and want to lessen the blow later on. that's why i ask why not give us a 4%tax cut and let us save ourselves. and then metla pointed out people would just spend it on 4% more booze. i guess i'm just sick and tired of responsibility contantly being taken from us. i don't like this whole dependance on the government which the workers fund. too much beurocracy involved. and i hear they don't guarantee your money back. that said, it IS optional, right?	motorbyclist (188)
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