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AFA Expert Opposes National’s Latest KiwiSaver Policy

Press Release – National Capital

One Authorised Financial Advisor who specialises in helping individuals plan for a better financial future by maximising their KiwiSaver is vehemently opposed to Nationals proposed policy which would allow New Zealanders wanting to start a …

One Authorised Financial Advisor who specialises in helping individuals plan for a better financial future by maximising their KiwiSaver is vehemently opposed to National’s proposed policy which would allow New Zealanders wanting to start a new business to ‘dip into’ their KiwiSaver. 

Clive Fernandes, Founder and Director of National Capital.co.nz said in response to the policy announcement, “This is a terrible idea. The primary reason for small businesses failing is undercapitalisation. And here we have a policy which is encouraging someone who is unemployed to start a business using $20,000 from their retirement savings. It’s a recipe for disaster.

“KiwiSaver was intended as a retirement savings scheme. We already have a problem, that even with KiwiSaver, a large proportion of Kiwis will not have enough money to retire on. Encouraging them to withdraw even more from their KiwiSaver accounts will only exacerbate the problem.”

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