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

Brodie Hobbs and Jan Feld

New Zealand Economic Papers, 2023, vol. 57, issue 1, 61-75

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.

Date: 2023
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DOI: 10.1080/00779954.2021.1998198

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