ACT vows to scrap tax on KiwiSaver earnings, end Govt contributions
New Zealand's ACT party has pledged to eliminate taxes on KiwiSaver earnings and end government contributions if elected. Leader David Seymour argues the policy will empower individuals to manage their own retirement savings and benefit from compounding returns.
Why it matters
This proposal represents a significant shift in national retirement savings policy, sparking debate over the role of government in personal financial planning.
<p>ACT has pledged to remove tax on KiwiSaver earnings and scrap Government contributions at the party's election campaign launch today.</p> <p>Leader David Seymour said the changes would let returns "stay invested and generate savings for generations to come".</p> <p>"If you save for the future we will let you get the full benefit of compounding returns instead of taxing you every step of the way," he said.</p> <p>Seymour believed the proposed policy could double savings for some workers before retirement, with accounts potentially collecting hundreds of thousands more.</p> <p>"Put it this way.
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