Clark David: KiwiSaver Budget Measures Bill — First Reading Second Reading In Committee Third ReadingText is incorporated into the Bound VolumeClark David: KiwiSaver Budget Measures Bill — First Reading Second Reading In Committee Third Reading[Sitting date: 21 May 2015. Volume:705;Page:3854. Text is incorporated into the Bound Volume.]Dr DAVID CLARK (Labour—Dunedin North):Thank you for the opportunity to speak to clause 5. Labour has moved a number of amendments that I think are well worth considering and would actually be worth having some debate on. The first is in the name of Kris Faafoi and it refers to the ability for the kick-start payment of $1000 to continue to be accessed by babies essentially. This is designed to ensure that those with newborns are encouraged to take up this scheme so that a savings fund can be established for the child as they grow up with the aspiration that out of it they may be able to afford their first house or they may in some way be able to supplement themselves in retirement. However they do it it kicks off a savings habit and that of course is what the $1000 was intended to do.So that amendment in the name of Kris Faafoi a very good amendment would allow children up to the age of 6 months to be enrolled in the scheme and still be able to access that $1000 kick-start payment. The second amendment that has been moved is in the name of Jacinda Ardern. It proposes that people who are starting a new job should be allowed to access that $1000 kick-start payment.These are all as you will appreciate variations on parts of what is being cut. They are preserving different things according to the principal aim of the Act which is to encourage a savings habit. This amendment in the name of Jacinda Ardern makes it possible for people when they start a new job to receive the kick-start payment so they are off to a flying start in their savings regime. It will encourage them not to opt out because they will see the opportunity there to continue and grow their savings at the time they are thinking about those things—at the time they start a new job.The third amendment that is proposed is in the name of Annette King. It provides an option for people who have been in the same job for the whole time since the KiwiSaver scheme started—since 2006 perhaps or earlier—and who may well think to themselves having watched what has happened during the Budget that this kick-start thing is something that they do not want to pass by. They have been in the same job for a long time and if the Government takes away the right to get that kick-start $1000 payment for people who are starting a new job this amendment enables them to say: “Well actually now I am going to grab that opportunity. I am going to grab that opportunity because my retirement savings are important to me.”These are all measures that are designed in some way to ensure that people can access that $1000 so that the half a million people who we are told will miss out in the next 4 years are limited—so there will not be half a million people who will miss out; it will be fewer. These are sensible amendments from Labour and I think they are worthy of consideration if not lengthy debate. They are certainly worthy of consideration by this Committee and I think that members opposite should think about voting in support of some of these if they really believe in their heart of hearts that they want to increase savings in this country.