The Council of Trade Unions has done some research showing a worker with a Kiwisaver account will stand to lose as much as $200,000 in accumulated savings over their working life as a result of the National-led Government’s changes to the scheme.
If you’re on $50k a year then National’s Kiwisaver cuts will cost you $145k over your working life. That’s three years’ wages ripped out of your savings to pay for tax cuts for the rich.
Merry Christmas, New Zealand.
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