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KiwiSaver: New Zealand's New Subsidized Retirement Savings Plans (PDF)
U.S. Social Security Administration [SSA] 
June 3, 2008 8 pages. Excerpt: On July 1, 2007, New Zealand introduced KiwiSaver, a new subsidized retirement savings plan. All new entrants to the labor force and anyone starting a new job are automatically enrolled in a plan and may opt out if they wish. Anyone younger than age 65, including the self-employed and anyone not in the labor force, may choose to set up a KiwiSaver account. The government provides tax credits for both employer and account holder contributions, a one-time tax-free payment to each account, and an annual fee subsidy to defray administrative costs. MORE >> |
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