John Berry: Pathfinder KiwiSaver co-founder on the KiwiSaver changes set to take effect this week

If you notice your pay packet feels a little lighter from next week, it's due to incoming changes coming to KiwiSaver. From April 1, the default KiwiSaver contribution rate will increase from 3 percent to 3.5 percent, a phased move which will take the default rate to 4 percent in 2028. Pathfinder KiwiSaver co-founder John Berry says this will give people more money to enjoy their retirement with, but we're still behind Australia in this regard.  "Australia at the moment, their contribution rate is 12 percent. We've got another step up coming in two years' time, that's already locked in...we need to go further, slowly further, over time." LISTEN ABOVESee omnystudio.com/listener for privacy information.