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What would happen if people could choose automatically increasing KiwiSaver contributions?

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  • Brodie Hobbs
  • Jan Feld

Abstract

In this paper, we study a scheme that would make increasing KiwiSaver contributions easier. This scheme would give people the option to automatically increase their contributions each year until a maximum contribution rate is reached. We study the effect of offering this scheme with a survey experiment in which respondents are asked to fill in KiwiSaver deduction forms with and without the possibility of joining the scheme. We find that 29% of respondents would choose to join the scheme if offered. Offering the scheme has no detectable impact on current contribution rates and can substantially increase future contribution rates.

Suggested Citation

  • Brodie Hobbs & Jan Feld, 2023. "What would happen if people could choose automatically increasing KiwiSaver contributions?," New Zealand Economic Papers, Taylor & Francis Journals, vol. 57(1), pages 61-75, January.
    • Handle: RePEc:taf:nzecpp:v:57:y:2023:i:1:p:61-75
    DOI: 10.1080/00779954.2021.1998198
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