Speaker 1: You're listening to a shares These podcast. We've got the
Speaker 1: budget coming up there. If you like rumors that the
Speaker 1: government might cut its contribution, which is five hundred plus
Speaker 1: dollars a year, Chris, do you think that's going to
Speaker 1: have any effect at all?
Speaker 2: I'm not sure it will on key we saber participation
Speaker 2: because key we saver fulfills a few key functions.
Speaker 3: You know.
Speaker 2: One, it's really well regulated and people get accessed to
Speaker 2: a wide range of investments right some some lower cost
Speaker 2: and more passive, and some high cost and more active.
Speaker 2: So I think it's working really well, and most people
Speaker 2: I talk to are really positive about key we Saver. Second,
Speaker 2: obviously you still get your employer contribution, which is as meaningful.
Speaker 2: Might not be quite as high as Australia, but it's
Speaker 2: still meaningful. I thing like it for people, So I
Speaker 2: think overall it would be a shame. Don't get me
Speaker 2: wrong to see changes, because I think what makes schemes
Speaker 2: popular is actually when they're largely left alone by politicians
Speaker 2: so people can invest with confidence.
Speaker 3: Might take almost sorry, Christ, I must take the opposite. Yeah,
Speaker 3: I think we're overdue for a policy review. Keep Saver
Speaker 3: We're only a tiny little scheme, but I think we've
Speaker 3: tried to be as vocal as we can. I'll come
Speaker 3: back to agreeing with Chris now. With the government contribution
Speaker 3: is that it's not targeted anyway, and what I'd like
Speaker 3: to see actually is targeted and targeted at the people
Speaker 3: that are being left behind. And I mentioned self employed before,
Speaker 3: and you mentioned the kickstart and children. The fact that
Speaker 3: the government contribution is not available to anyone under eighteen
Speaker 3: seems contrary to good sense, which would be to get
Speaker 3: people involved in Keepsaver as early as possible and incentivize that,
Speaker 3: and incentivize people who are self employed because they are
Speaker 3: not receiving the having if they receive an employer contributions
Speaker 3: coming out of their own pocket twice and so you know,
Speaker 3: there's I think let's have a look at the policy settings.
Speaker 3: But I do take your point that the more that
Speaker 3: you that you kind of mess around with it, So
Speaker 3: any changes need to be really well signaled.
Speaker 2: Oh look, and I'm more thinking about messing with it
Speaker 2: in a negative way, and I want to mess with
Speaker 2: it in a positive way. Around higher contributions.
Speaker 1: We've actually looked at that ourselves.
Speaker 3: Haven't we met what we heard when we got involved
Speaker 3: in kipsab is industry saying that contributions need a rise,
Speaker 3: and we heard the Retirement Commission say largely the same thing.
Speaker 3: But the voice that was kind of missing from that
Speaker 3: was the people who were going to have to make
Speaker 3: the higher contributions, and that's you and me, that's the members.
Speaker 3: So we went out and asked a bunch of our investors,
Speaker 3: not out necessary keep we Saver members, but just people
Speaker 3: on the Cheesies platform. It was overwhelming how many people said,
Speaker 3: I get it, I'd prefer to have a little bit
Speaker 3: less in my take home this week in order to
Speaker 3: have more retirement. It was seventy eight percent who supported
Speaker 3: that idea, which is phenomenal because it's counter to everything
Speaker 3: that we assumed people would think. Like at the height
Speaker 3: almost of the cost of living crisis, investing involves the
Speaker 3: risk you might lose the money you start with.
Speaker 2: We recommend talking to a licensed financial advisor.
Speaker 1: We also recommend reading product disclosure documents before deciding to invest.