KiwiSaver was meant to increase financial literacy. One of the secondary hopes for our national retirement savings scheme was that it would make more people familiar with the 'whats' and 'hows' of investment and improve our financial capability.

And so it has: I think that people today are much better with things like selecting the right fund and getting their contribution rates right.

Sure, there are still plenty of examples of people managing their KiwiSavers poorly, but we are a lot better today than we were when KiwiSaver was first launched 12 years ago.


One issue that has received