Abolish all default kiwi saver providers and replace with a fee free (or very low fee) government scheme that invests in low cost index funds only. The government scheme would provide a variety of funds based on risk. People automatically enrolled would be matched to up to the appropriate fund based on age i.e. a 25 year old would be invested in a high risk (90-100% equity fund). When an auto enrolled person gets close to retirement age they are transferred to a more conservative fund. The future value this would generate for New Zealanders in aggregate would be staggering for relatively little cost to implement. Other things to consider/comments: Any account that has been automatically enrolled into a default provider would be transferred to the new government scheme. Only losers from this plan is the financial services industry. Extremely easy to show that in aggregate they are a liability plus people still have the right to invest with them. Make Kiwisaver compulsory and replace the 1st home buyer withdrawal with another form of government support.