One Authorised Financial Advisor who specialises in helping individuals plan for a better financial future by maximising
their KiwiSaver is vehemently opposed to National’s proposed policy which would allow New Zealanders wanting to start a
new business to ‘dip into’ their KiwiSaver.
Clive Fernandes, Founder and Director of National Capital.co.nz said in response to the policy announcement, "This is a terrible idea. The primary reason for small businesses failing
is undercapitalisation. And here we have a policy which is encouraging someone who is unemployed to start a business
using $20,000 from their retirement savings. It’s a recipe for disaster.
“KiwiSaver was intended as a retirement savings scheme. We already have a problem, that even with KiwiSaver, a large
proportion of Kiwis will not have enough money to retire on. Encouraging them to withdraw even more from their KiwiSaver
accounts will only exacerbate the problem."