Is there any point joining KiwiSaver now?
RNZ's money correspondent Susan Edmunds answers your questions.
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RNZ
Send your questions to
susan.edmunds@rnz.co.nz
I somehow never got around to joining KiwiSaver. When it launched, I was still paying off my student loan and only working part-time and it didn't feel as though I had the money to spare. I've kept opting out and now I wonder if I've left it too late? Is there any point me joining when I'm nearing 50?
I think it always makes sense to start saving and investing if you can.
You might be able to accumulate more than you expect in the next few years. Sorted's calculator says someone who is 50, earning $75,000 and starting from scratch in a growth fund contributing 4 percent plus an employer's 4 percent could have $105,043 saved at 65.
If you keep working beyond that point, as an increasing number of people do, you could keep adding to your savings and investments.
I think it's a really good idea for anyone who is employed to be in KiwiSaver because it's usually the only way to get your employer to help with your retirement savings. It makes sense to contribute whatever your employer is willing to match, otherwise you're leaving money on the table.
We made an offer on a house that we really like and had to get a valuation as part of the home loan approval. It's come back $20,000 less than the offer we made. What can we do?
There are a few things you can do.
The first would be to see whether the vendor is willing to knock the price down by $20,000 so that the sale price is in line with the valuation.
The second would be to see if you can negotiate with your lender to approve a loan with the new value.
This is more likely to succeed if you had more deposit than the minimum required by the bank. If you had a 17 percent deposit, for example, you might be able to get them to approve the loan with a 15 percent deposit of the new value.
It's worth noting that if this takes you up a step in loan-to-value ratio (LVR) above 80 percent it could mean you have to pay a higher low-equity margin or fee.
If that doesn't work, you might need to cover the difference yourself, if you have the money available to you.
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RNZ News
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NRL: NZ Warriors v South Sydney Rabbitohs - what we learned from another heartstopper
Mitch Barnett may face a stint on the sidelines with a knee injury. Photo: David Neilson/Photosport After seeing their five-game winning streak ended last week by Canberra Raiders, NZ Warriors have started another, with their 36-30 win over South Sydney across the Tasman. After threatening to run away with victory at 30-12, once again, they let their opponents back into the contest, which became another heartstopper. The Warriors lost one of their best early, and had to survive a comeback inspired by one of the game's absolute freaks and another headed for the record books, but at the end of the weekend, they have consolidated their top-three spot on the NRL table. Here are some key takeaways from the game. Much has been said about the contribution of co-captain Mitch Barnett this season, especially while fellow skipper James Fisher-Harris was sidelined by injury. During his tenure at Mt Smart, Barnett has become an automatic NSW selection for State of Origin and an inspiration to those around him. His team missed him badly last week against Canberra Raiders, when Kiwis international prop Joseph Tapine bullied the Warriors pack and taunted former Raiders teammate Charnze Nicoll-Klokstad. For the first time in 2025, coach Andrew Webster had all his players available against the Rabbitohs, but that lasted just 20 minutes, before Barnett hobbled off with a reported knee injury. He fell badly while making a tackle, with his right knee buckling under him. Barnett tried to play on, but could not, which suggests he may be out for a while. Certainly, his body language wasn't great and scans will determine whether he can be fit for Origin II on 18 June. "There's different grades to each different injury and until you look under the hood, honestly you don't know," said Webster. "He's in good spirits. "We lost Fish for four weeks and he's one of the best front-rowers in the world, so we certainly know how to do next man up." In his absence, Fisher-Harris stepped up , logging 56 minutes and making a game-high 53 tackles, while Jackson Ford continued his outstanding form off the bench, running 15 times for 153 metres and making 37 tackles. Ford also showed his surprising skill, producing a kick that resulted in Rocco Berry's first-half try. If Barnett can't make it back for NSW, the selectors need only look across at Rabbitohs counterpart Keaon Koloamatangi as his replacement. Shifted to the middle this season, he again led his team with 218 running metres from 27 carries and made 39 tackles, while scoring a try. With the Warriors leading 4-0, halfback Luke Metcalf produced a play that must have had him - and Warriors fans - flashing back to the season-opening defeat to Canberra at Las Vegas. Luke Metcalf celebrates his try against Souths. Photo: David Neilson/Photosport On that occasion, they were hot on attack and looking left, when Metcalf had his pass picked off by winger Xavier Savage for a try down the other end - a potential 12-point turnaround. This time, the Warriors were shifting right, when Metcalf tried to float a pass over Alex Johnston to Dallin Watene-Zelezniak, who was probably already thinking about his gravity-defying dive at the corner. Unfortunately, the Souths winger plucked the ball from the air and dashed the length of the field for his team's opening try, converted by Latrell Mitchell from the sideline for the lead. Another 12-pointer. Leading Dally M Medal standings into this round , Metcalf compounded his error by missing a relatively simple conversion of Berry's try before halftime. To his credit, he turned his performance around in the second half, scoring his eighth try of the season, making two linebreaks and providing a try assist. Metcalf has the lowest conversion success rate of all the fulltime kickers in the competition at 65 percent, but many of them seem to be from the sidelines. After slicing his gimme in the first half, he nailed a couple from out wide in the second, showing the temperament you want from your kicker in the clutch. "I was just talking to him and I don't think he's that pumped with parts of his game, but that try he scored was at a great time," said Webster. "He finds a way to have a moment like that in every game. "We were defending our sets for big periods there, so everyone's doing their part. Luke's fast, he sees the moment and takes it, but I felt like it was a team try. "He's the guy finishing it off, but I felt like the whole team had a big part in that one." This wasn't his best outing of the campaign, but it was likely enough for Metcalf to add to his Dally M tally, with voting now behind closed doors until the end of the season. Fullback Charnze Nicoll-Kolkstad continues to show why extending his stay at Mt Smart was so important for the Warriors. His 342 running metres from 28 carries included 100 metres after contact and were the most by a Warriors player this season - beating his own mark of 316 against Sydney Roosters. In fact, he has been the leading runner for his team six times this campaign and they've won all six. He was concussed against Melbourne Storm and missed the next game against Brisbane Broncos, otherwise he'd be higher in the competition leaders. Charnze Nicoll-Klokstad scores a try against South Sydney. Photo: David Neilson/Photosport A quick tally puts him third in this category now with 2259 metres, behind Manly's Lehi Hopoate (2432) and Roosters veteran James Tedesco (2430). Look up the expression 'rocks and diamonds' in the dictionary, and you'll find Latrell Mitchell's picture next to it. When he's engaged, he's an absolute superstar - epitomised by his outrageous 55-metre field goal against Brisbane Broncos - but when he's not, he can be absolutely terrible. When he was pulled from the field late in the first half for a concussion test, his Rabbitohs were teetering. Mitchell took a head knock in the contest for a high ball that led to the Warriors' second try and, while he was off the field, counterpart Nicoll-Kolkstad scored their third to put the visitors ahead at the break. That momentum switch carried into the second half, but at 18 points down, Mitchell began to put his imprint on the contest, throwing a long pass for Johnston to score his second try. Moments later, he repeated that effort for Johnston's third. He had Nicoll-Klokstad in sixes and sevens, as his opposite slipped into touch trying to cover a long, probing kick, and eventually had his own try, taking a short pass and powering over from short range. He converted all five of his team's tries and tormented the Warriors back three with is towering kicks. Without injured veterans Cody Walker and Jack Wighton in the backline, Mitchell has had to be all things to everyone for these Rabbitohs, even playing the halves earlier in the season. The Warriors were lucky to see him at his mercurial best, yet survive to take the two competition points. There have been times over the past 12 months when Johnston probably wondered if his NRL career was over. Last season, he scored his 191st try, which was the most by any player at just one club, but suffered a season-ending Achilles tear soon afterwards. He returned to the field in the fourth round this season, but didn't reach halftime, before leaving with a rib injury. Against the Warriors, his hattrick propelled him to 200 tries - second only to former North Sydney and Manly legend Ken Irvine (212). "He's a pretty special player," Souths coach Wayne Bennett said. "He's not only a good athlete, but he's pretty smart with it." Each year, the Ken Irvine Medal is awarded to the NRL's top tryscorer and Johnston has won it three times (2020-22). Fingers crossed his body allows him to break Irvine's record soon. Both the Warriors and Rabbitohs came into this contest unbeaten when leading at halftime. The Warriors were 5/5 and Souths were 4/4, so leading at the break took on added significance. With the siren about to sound, Nicoll-Klokstad stumbled under a couple of tacklers and went again to level the scores, while Metcalf provided the extra points to put his side ahead. The achievement took on added importance, given the Warriors had been outscored after halftime of their five previous games to the value of 56-21. Against Souths, they not only outscored their opponents 22-18, they managed more second-half points than those previous five games combined. This result evens the historic head-to-head record between these two teams at 21-21 and the Warriors now improve to 17-31 against Bennett-coached teams over the past 30 years. "They like making it hard. We've practiced resilience all pre-season, we defended our line really well. They have a tight connection, they believe in each other and they don't want to let each other down." Warriors coach Andrew Webster "These guys never give up, so you never worry about the time, but we were beaten on the scoreboard and we did run out of time in the end." Souths coach Wayne Bennett The Warriors head back across the ditch next Saturday to face Cronulla Sharks, who lurk four points behind in fifth on the NRL table. So far, they have struggled to find consistency, beating the Cowboys, Rabbitohs, Sea Eagles and Storm among the top eight, but losing a real headscratcher against Sydney Roosters last week, when they were at full strength and the Roosters were without a handful of Origin reps. They have a genuine star in Nico Hynes, gamebreakers throughout the backline and pack, but the player everyone will watch is former Warriors front-rower Addin Fonua-Blake, who was released early to return to Sydney this season. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
2 hours ago
- RNZ News
Two former finance ministers receive King's Birthday Honours
Former National MP Ruth Richardson. Photo: Supplied Two former finance ministers have been appointed Companions of the New Zealand Order of Merit at this year's King's Birthday Honours. Ruth Richardson and Steven Joyce, both former National MPs, have been honoured for their services as Members of Parliament. Three other former MPs - Ian McKelvie, Anae Arthur Anae, and Dover Samuels - have also received Honours. Richardson was well aware that an interview about her King's Birthday Honour would include questions on her time as finance minister. The economic reforms she oversaw - and the 1991 'Mother of All Budgets' - made significant changes to social welfare and public services, the effects of which are still felt by many. Richardson started by saying in 1991 New Zealand was at huge risk, and was drowning in a sea of debt and perpetual forecast deficits. "Early and decisive course correction was imperative. I didn't flinch in my duty as minister of finance," she said. Richardson said her Budgets proved to be circuit breakers, resulting in a lift in growth and employment, a reduction in public debt, and the books going back to black. Receiving the call she would be appointed a CNZM felt like a "seal of approval" for her work, she said. "I have always worn those reforms that I championed as a badge of honour, and the restoration of New Zealand's fortunes made it worth it. So I guess this award thirty years down the track is a recognition of that work." Anticipating a question that her critics may be surprised to see her receive an Honour, she told them to look at the evidence. "Look at where we were. Look at the risk that we faced, look how vulnerable we were, and then look at the result. And the reward for those reforms was on multiple fronts. "New Zealand was given a second chance, as it were, we were out of the valley of financial death, and we put ourselves on a sound footing as a result of those reforms." Most of Richardson's Cabinet colleagues have already received Honours in the intervening years. She said it was not for her to answer as to why she had not until now. The recognition was also bittersweet, with Richardson recently experiencing a bereavement. "It's been a miserable May, so this is putting June on a good footing," she said. Steven Joyce said he was "genuinely surprised" to be appointed a CNZM. "I really see it as an acknowledgement of the team that I worked with in Parliament, and in the ministries, and also my family. They gave up a lot for this period, it was 10 very intense years, so it's as much recognition for them, I think, as it is for me," he said. Steven Joyce Photo: RNZ / Rebekah Parsons-King Joyce, who gained a reputation as National's 'Mr Fix-It,' served as minister for transport, economic development, communications, and tertiary education during his time in government. "There's a few things that I'm proud to have been involved with. The ultra-fast broadband, setting that up was a real high point early on. The Roads of National Significance, it's still a thrill to drive on the Waikato Expressway, and through the Waterview Tunnel. I bore my children silly reminding them that Dad had a bit to do with that," he said. "And some of the economic growth programme that I led under John [Key] and Bill [English] during that time, it was a real thrill to be able to do that. I saw it as sort of an opportunity to bring the various sort of micro-economic policies together and get them working in a cohesive way. I think we managed that, and subsequent events have shown it's not as easy as it looks." When Sir Bill English replaced Sir John Key as prime minister, Joyce stepped up as finance minister. He would only get to deliver one Budget, before leaving Parliament in 2018. His replacement from the National party list, Nicola Willis, has just delivered her second Budget. Joyce said it was a hard job, and one he did not have any FOMO over. "Every challenging time is more real, the closer you are to it. We're in the middle of it right now, but the GFC and the Canterbury earthquakes coming close together were pretty big for our government. I worked very closely with Bill through that period, so I do understand the pressures and challenges that arise, and the hundreds of things you're trying to balance." Since leaving Parliament, Joyce has continued to write columns, which he described as his "post-political therapy". He said the old Kitchen Cabinet gets together from time to time, particularly the 2008-2011 team, and hoped they would get to do so again soon. Former National MPs Ian McKelvie and Anae Arthur Anae have been made Members of the New Zealand Order of Merit. McKelvie has been appointed the MNZM for services to local government, governance, and as a Member of Parliament. Ian McKelvie Photo: RNZ / Angus Dreaver The former Manawatū mayor, who was also MP for Rangitīkei between 2011 and 2023, credited those around him for the accolade. "I think it's a reflection of a lot of people have been very good to me along the way. And I've had some amazing helpers in my life... from my MP days, my agricultural and pastoral days, right through I've had some amazing people looking after me," he said. McKelvie is currently a community advisor at the University College of Learning. He has also spent his time post-politics farming and fixing buildings. "I'm slowly finding some other things to do, because I thought I was going to do nothing but doing nothing's not an option for me. I'm finding some little jobs to do, and I keep quite busy," he said. He has also had some time to do some travelling around New Zealand. "We've got a little motorhome we pot around in, and we get around the country a bit. We've spent a bit of time in the South Island, so we've had some very nice looking at things that we wouldn't have otherwise looked at, and stayed with some friends that we would otherwise not have." He is still chair of a body corporate in Wellington and so sees his old colleagues from time to time. But he has no regrets on his decision to retire from Parliament just as National re-entered government. "I wouldn't want to be doing the work that some of them are having to do now. It looks very busy to me!" Anae Arthur Anae served two stints as a MP, from 1996 to 1999 and from 2000 to 2002, and has been appointed a MNZM for services to the Samoan community. Anae said he was surprised upon hearing the news of his honour, but was thrilled on behalf of his community. "Something like this doesn't belong to me, it belongs to them. I was just the vehicle doing a particular job." Anae Arthur Anae. Photo: RNZ / Cole Eastham-Farrelly Anae suspected his work on advocating for the Citizenship Western Samoa Restoration Amendment Bill was a key factor in receiving the honour. The law change, which allows for a pathway for certain individuals whose New Zealand citizenship was removed under a 1982 Act to apply for it, passed in November last year. Anae said he had worked on getting the legislation over the line for about 27 years. "After a long battle, people saw the light of where it went." The law change was tinged with some sadness for Anae, as many of the elderly people he had marched with when protesting for recognition were no longer alive to see the outcome. Despite the King's Birthday honour, Anae said he would not stop fighting for Pacific communities, including for Pacific people to be able to travel to New Zealand without a visitor's visa. "I'm not asking here, I'm demanding the Pacific people be treated the same way. "New Zealand is our second home. This is where our families live. We've played a big role in the development of New Zealand." In regards to the honour, Anae said he had never considered receiving one. At this stage he said, he was only interested in one thing: "To fix the wrongs that have been done to the Pacific community for too long. It is time New Zealand recognises who we are. We're people who can do anything, and can prove we can do anything in this country. Don't keep treating us as third rate citizens. I won't accept it." Dover Samuels, a kaumatua from Ngāpuhi, said upon being notified he was receiving the Honour, he reflected on meeting King Charles at Waitangi. Samuels was asked by the then-Prince of Wales how he was, and responded by saying "jolly good old chap!" "I think he got a bit of a buzz out of that," Samuels laughed, adding when he got the call to tell him he would be receiving an Honour that Charles had remembered his name. Dover Samuels. Photo: Aotearoa Media Collective He admitted he initially thought he was being scammed when he first received the phone call. After the second call, he investigated by ringing Parliament, who confirmed they had been trying to talk to him. "I thought they might have been wanting to talk to Hone Harawira!" Samuels, a Labour MP from 1996 to 2008, who served a stint as Māori Affairs minister and held a number of associate minister roles, has been made a Companion of the King's Service Order for services as a Member of Parliament. He said he had to reflect on why he had been honoured. "I think that I've tried my best in Parliament to do the job on behalf of my people, and addressing the real problems." One of the fifth Labour government's Māori policy mantras was "closing the gaps," Samuels said. However, he did not think that had been achieved, and the gaps had got wider since then. Looking back at the negative statistics that continued to haunt Māori had made him want to think again, he said. "I'm convinced now, the negative statistics that have been haunting us will keep haunting us, until we recognise that the answer is in our own hands. "The answer is in the hands of your own whānau, your own matua. Yeah, that's where it must begin." Samuels also lamented the fact there was still no Treaty settlement for Ngāpuhi. He said the opportunity for a settlement was "in our own hands", and wanted Ngāpuhi to consider the "loss of opportunity from generations that are not yet born, and for our mokopuna that could have benefited from a settlement from the biggest iwi in Aotearoa." He wanted Ngāpuhi to harness its talent and ability, and said if a settlement was achieved during his lifetime, and he had contributed to it, "then I would have done my share." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
11 hours ago
- RNZ News
Aquaculture animal welfare code 'anti-Kiwi', Oceans and Fisheries Minister Shane Jones says
Oceans and Fisheries Minister Shane Jones. Photo: RNZ / Samuel Rillstone Oceans and Fisheries Minister Shane Jones is ruling out an animal welfare code for aquaculture, saying it is "anti-Kiwi" and an "indulgence". The SPCA has called for a code to protect farmed fish, following a government plan to grow the industry's revenue to $3 billion annually by 2035. Scientific officer Marie McAninch said a code would also help give the aquaculture sector access to the sorts of international markets that land-based farmers benefit from, thanks to their animal welfare codes. "New Zealanders care about how farmed animals are treated - and so do people overseas who buy our products. They'll expect that farmed fish in aquaculture are treated well and that their welfare meets our animal welfare laws. "A code of welfare for aquaculture would help make that happen. But right now, New Zealand's Aquaculture Strategy - and the Aquaculture Development Strategy that Shane Jones announced in March - are both completely silent on the welfare of the animals being farmed." Jones said he would not be considering an animal welfare code. "Most certainly not. I think these impositions are anti-Kiwi. We are in the midst of a set of economic challenges where we must expand and grow the footprint of aquaculture. It's all going to end up [as food for] human consumption or pet consumption." Jones said existing fish farmers already did "a very good job" of looking after their stock. "All of these animal husbandry businesses, there's always scope for improvement. But regulatory codes ... only represent red tape and at a deeper level where does all this end? We're a small economy and a lot of these impositions are, in my view, indulgences. They're vanity projects and these debates need a clear set of contrasting views." But McAninch said New Zealanders cared about how farmed animals were treated - and so did people overseas who bought products from New Zealand fish farms. Fish were legally recognised as sentient beings, which meant they were capable of feeling pain, stress and positive emotional states, she said. The SPCA was not against aquaculture, McAninch said. "But we do believe it's crucial to make sure all farmed animals - and any wild animals affected by these systems - are properly protected. Our land-based farming sectors take pride in their animal welfare codes, and it's helped them with access to international markets. If the aquaculture sector doesn't plan for this now, they risk falling behind in a global environment where factory farming is increasingly under scrutiny." Jones said he was "the first to admit some of my views might be a bit difficult to stomach". But animal advocates were "on a trajectory of mission creep, and I kind of feel it's anti-Kiwi," he said. "I can understand that little kittens and dogs that bite children and other welfare considerations [are] an established part of rural life and our ethos, but suggesting that people growing salmon, new fish species and indeed shellfish ... we already have a system through the Resource Management Act that deals with the effects of such activity." Jones described a recent outcry by animal lovers about farming octopuses , which are sentient beings, as "the height of this folly". "We need to grow industry, we don't want to impose these urban based vanity beliefs of basic industrial growth prospects." Octopus farming was banned in the United States in Washington and California due to animal welfare concerns, and consideration of a ban is also underway in three more states. But Jones said New Zealand could not afford such "luxury indulgences". "It's not something that I'm going to encourage, it's certainly not something I'm going to push forward, or agree with, at a time we have large competing objectives and other goals that I think society should set its mind upon." The SPCA would welcome talks with the minister about how a welfare code could help ensure the aquaculture sector was sustainable and resilient, McAninch said. There is currently no code of welfare for farmed fish species, although the New Zealand Salmon Farmers Association has developed a voluntary welfare standard for farmed salmon in New Zealand. The Animal Welfare Act 1999 (the AWA) and the Code of Welfare for Commercial Slaughter applies to farmed fish and for any fish that are intended to be held or transported live. The National Animal Welfare Advisory Committee (NAWAC) has identified development of a code of welfare for farmed fish for consideration as a future priority. The Minister in charge of Animal Welfare, Associate Minister of Agriculture Andrew Hoggard said NAWAC set its own work programme and schedule for code reviews, but he had asked it to prioritise production livestock codes, and the rodeo code. "Several of these codes have been under review for some time and the industries concerned need certainty. I expect NAWAC to deliver on those codes before turning their attention to other animal species." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
