The government is going to tweak KiwiSaver to bring down the number of people on contribution "holidays", while also making the super savings scheme more age-friendly.

The Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill, introduced into Parliament on Monday, would limit the maximum contributions "holiday" savers could take before having to apply for a new one, from five years to one.

The bill would also pave the way to letting people aged over 65 join KiwiSaver for the first time.

read more