1 00:00:01,000 --> 00:00:04,560 Speaker 1: You're listening to a shares These podcast. We've got the 2 00:00:04,559 --> 00:00:08,320 Speaker 1: budget coming up there. If you like rumors that the 3 00:00:08,360 --> 00:00:12,160 Speaker 1: government might cut its contribution, which is five hundred plus 4 00:00:12,200 --> 00:00:15,600 Speaker 1: dollars a year, Chris, do you think that's going to 5 00:00:15,640 --> 00:00:17,560 Speaker 1: have any effect at all? 6 00:00:18,840 --> 00:00:21,880 Speaker 2: I'm not sure it will on key we saber participation 7 00:00:22,200 --> 00:00:26,640 Speaker 2: because key we saver fulfills a few key functions. 8 00:00:26,680 --> 00:00:26,799 Speaker 3: You know. 9 00:00:26,880 --> 00:00:29,880 Speaker 2: One, it's really well regulated and people get accessed to 10 00:00:29,920 --> 00:00:34,400 Speaker 2: a wide range of investments right some some lower cost 11 00:00:34,680 --> 00:00:37,479 Speaker 2: and more passive, and some high cost and more active. 12 00:00:37,560 --> 00:00:41,200 Speaker 2: So I think it's working really well, and most people 13 00:00:41,280 --> 00:00:46,080 Speaker 2: I talk to are really positive about key we Saver. Second, 14 00:00:47,120 --> 00:00:52,240 Speaker 2: obviously you still get your employer contribution, which is as meaningful. 15 00:00:52,600 --> 00:00:55,120 Speaker 2: Might not be quite as high as Australia, but it's 16 00:00:55,120 --> 00:00:59,160 Speaker 2: still meaningful. I thing like it for people, So I 17 00:00:59,200 --> 00:01:02,200 Speaker 2: think overall it would be a shame. Don't get me 18 00:01:02,200 --> 00:01:06,360 Speaker 2: wrong to see changes, because I think what makes schemes 19 00:01:06,520 --> 00:01:11,120 Speaker 2: popular is actually when they're largely left alone by politicians 20 00:01:11,120 --> 00:01:13,640 Speaker 2: so people can invest with confidence. 21 00:01:14,560 --> 00:01:18,479 Speaker 3: Might take almost sorry, Christ, I must take the opposite. Yeah, 22 00:01:18,520 --> 00:01:21,479 Speaker 3: I think we're overdue for a policy review. Keep Saver 23 00:01:22,120 --> 00:01:23,880 Speaker 3: We're only a tiny little scheme, but I think we've 24 00:01:23,880 --> 00:01:26,280 Speaker 3: tried to be as vocal as we can. I'll come 25 00:01:26,319 --> 00:01:30,000 Speaker 3: back to agreeing with Chris now. With the government contribution 26 00:01:30,200 --> 00:01:34,399 Speaker 3: is that it's not targeted anyway, and what I'd like 27 00:01:34,480 --> 00:01:37,400 Speaker 3: to see actually is targeted and targeted at the people 28 00:01:37,400 --> 00:01:40,600 Speaker 3: that are being left behind. And I mentioned self employed before, 29 00:01:41,240 --> 00:01:45,280 Speaker 3: and you mentioned the kickstart and children. The fact that 30 00:01:45,319 --> 00:01:48,480 Speaker 3: the government contribution is not available to anyone under eighteen 31 00:01:48,840 --> 00:01:52,760 Speaker 3: seems contrary to good sense, which would be to get 32 00:01:52,760 --> 00:01:56,800 Speaker 3: people involved in Keepsaver as early as possible and incentivize that, 33 00:01:57,400 --> 00:02:02,960 Speaker 3: and incentivize people who are self employed because they are 34 00:02:03,000 --> 00:02:06,040 Speaker 3: not receiving the having if they receive an employer contributions 35 00:02:06,080 --> 00:02:09,360 Speaker 3: coming out of their own pocket twice and so you know, 36 00:02:09,400 --> 00:02:13,080 Speaker 3: there's I think let's have a look at the policy settings. 37 00:02:13,320 --> 00:02:15,280 Speaker 3: But I do take your point that the more that 38 00:02:15,320 --> 00:02:18,280 Speaker 3: you that you kind of mess around with it, So 39 00:02:18,360 --> 00:02:20,400 Speaker 3: any changes need to be really well signaled. 40 00:02:21,440 --> 00:02:25,240 Speaker 2: Oh look, and I'm more thinking about messing with it 41 00:02:25,280 --> 00:02:27,040 Speaker 2: in a negative way, and I want to mess with 42 00:02:27,080 --> 00:02:31,160 Speaker 2: it in a positive way. Around higher contributions. 43 00:02:30,480 --> 00:02:33,079 Speaker 1: We've actually looked at that ourselves. 44 00:02:32,680 --> 00:02:35,280 Speaker 3: Haven't we met what we heard when we got involved 45 00:02:35,280 --> 00:02:38,960 Speaker 3: in kipsab is industry saying that contributions need a rise, 46 00:02:40,280 --> 00:02:44,519 Speaker 3: and we heard the Retirement Commission say largely the same thing. 47 00:02:46,320 --> 00:02:48,640 Speaker 3: But the voice that was kind of missing from that 48 00:02:48,840 --> 00:02:50,760 Speaker 3: was the people who were going to have to make 49 00:02:50,800 --> 00:02:54,360 Speaker 3: the higher contributions, and that's you and me, that's the members. 50 00:02:55,639 --> 00:02:59,200 Speaker 3: So we went out and asked a bunch of our investors, 51 00:02:59,240 --> 00:03:01,560 Speaker 3: not out necessary keep we Saver members, but just people 52 00:03:01,680 --> 00:03:06,560 Speaker 3: on the Cheesies platform. It was overwhelming how many people said, 53 00:03:07,120 --> 00:03:09,120 Speaker 3: I get it, I'd prefer to have a little bit 54 00:03:09,160 --> 00:03:12,160 Speaker 3: less in my take home this week in order to 55 00:03:12,160 --> 00:03:15,560 Speaker 3: have more retirement. It was seventy eight percent who supported 56 00:03:15,560 --> 00:03:21,000 Speaker 3: that idea, which is phenomenal because it's counter to everything 57 00:03:21,080 --> 00:03:25,320 Speaker 3: that we assumed people would think. Like at the height 58 00:03:25,440 --> 00:03:29,639 Speaker 3: almost of the cost of living crisis, investing involves the 59 00:03:29,760 --> 00:03:31,720 Speaker 3: risk you might lose the money you start with. 60 00:03:32,000 --> 00:03:34,560 Speaker 2: We recommend talking to a licensed financial advisor. 61 00:03:35,280 --> 00:03:39,120 Speaker 1: We also recommend reading product disclosure documents before deciding to invest.