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Michael Cullen

National Party Endorses Government Subsidy For KiwiSaver

The National Party says it will keep some form of government subsidy for people taking part in KiwiSaver if it wins the election, finance spokesman Bill English says.

Nats Want To Improve KiwiSaver - English

The National Party confirmed today it won't drop the KiwiSaver scheme, which the Government says has now signed up nearly 500,000 people.

Nearly 470,000 KiwiSavers Signed Up

Nearly 470,000 people have signed up for KiwiSaver ahead of next month's introduction of employer contributions to the scheme, the Government said today.

Govt To Plug Tax Loophole As Stapled Securities Attract Interest

Wellington, Feb 22 NZPA - The Government today moved to plug a tax loophole involving stapled stock instruments, such as those being offered for Auckland's international airport. Stapled securities are not common in New Zealand, but are increasingly used in Australia.

KiwiSaver Numbers Pass 400,000 Mark

The number of people signed up for KiwiSaver has passed the 400,000 mark far faster than expected.

"Verdict On KiwiSaver Is In" Says Cullen

"The verdict on KiwiSaver is in," Finance Minister Michael Cullen said today. "New Zealanders want to save for a better retirement and they know KiwiSaver makes that easier than ever before."

Business Ambushed On Savings Compulsion

Wellington, Dec 26 NZPA - Finance Minister Michael Cullen broke the drought of boring budgets this year with a major budget announcement he didn't consult business about. He as good as introduced compulsory superannuation.

National And Labour Commit To Retaining Super Entitlements

Both National and Labour have committed to retaining superannuation entitlements at current levels. Retirement Commissioner Diana Crossan has suggested the minimum age of eligibility for superannuation may need to be raised from 65 to 66 or 67.

Kiwi Savers Using Default Option

Wellington, Dec 17 NZPA - About 50 percent of those who have joined KiwiSaver have ended up with a default provider to manage their money assigned by Inland Revenue (IRD), rather than making the choice themselves.

Changes To KiwiSaver Legislation

The Government is making changes to the KiwiSaver legislation which is before Parliament.

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