Max Rashbrooke: IDEA Institute founding trustee explains the benefits of KiwiSaver for kids

Heather du Plessis-Allan Drive

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One NZ-based think tank is floating the idea of KiwiSaver schemes for kids, claiming it could set them up with $10,000-$20,000 in savings by the time they reach adulthood.

The Institute for Democratic and Economic Analysis has put out a report proposing different models, including a kickstart Government payment and matching parental contributions.

Max Rashbrooke, co-founder of the Institute for Democratic and Economic Engagement Analysis, says it could make a significant difference.

"Obviously, the Government's moving to make financial literacy a compulsory part of the curriculum, we think that's an excellent idea - but how much more meaningful would that financial literacy education be in high school classes if every child in that class knows they've got a KiwiSaver account that's accumulating?"

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