Employees' takeup of KiwiSaver low

Employees' takeup of KiwiSaver has been low, with 20 per cent of mid-sized businesses reporting no staff signing up, according to a survey yesterday.

The Government this month said that the number of people signed up for KiwiSaver passed the 400,000 mark faster than expected, beating a target of 276,000 by July this year, a year after it was launched.

However, only 6.7 per cent businesses surveyed had more than half their staff on the Government superannuation scheme, according to a Grant Thornton report.