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