There will be a great many accounts with tiny balances that are left unclaimed or are not cost-effective to run because of auto enrollment.
I’m puzzled.
Fresh from removing the sign-on bonus for new KiwiSaver members, Bill English is now talking about compulsorily enrolling everyone (well, all employees I assume) in KIwiSaver. This was National Party policy to do at some stage, when the government’s books were in surplus, but it has now got cheaper to do because people could now be forced to join, at no upfront cost to the government.
It is far from clear what problem the Minister of Finance thinks he would be addressing. Everyone who has started a new job since 2007 has already been auto-enrolled, and many others have chosen to enrol. My guess would be that at least half of those who were in labour force in 2007 have changed job since then, and a large number have entered the labour force for the first time. All those people were auto-enrolled. Most of those who have never…
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Utopia, you are standing in it! 
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