Money invested with Kiwi saver is not Government Guaranteed so Kiwi saver providers should be strictly controlled and audited by the Government.

The fees charged by providers are excessive and should be reduced as the total funds being managed increase.

Any kiwisaver that can arrange to become a default kiwisaver can make a fortune. All those with this advantage should have to charge lower fees than others.  

Kiwi saver providers should bring pressure to bear on listed companies to reduce director’s fees and executive salaries. The salary and bonuses of the top Chief Executive should not exceed 10 times the average wage.

Consultants are used to recommend salaries for executives and fees for Directors but they only get repeat work if they recommend very high increases each year.  This scam has created the huge disparity in incomes and amounts to the theft of shareholders funds invested in companies.  The claim is made that high salaries have to be paid to compete with what is happening overseas but this claim is not made for other skilled workers.  The more money a Chief Executive is paid, the more time they have to devote to spending and investing their money so they have less time to concentrate on their job. A very high salary does not improve performance. 

Any bonuses paid should be in the form of shares that cannot be sold but will provide an income for life. This would ensure that the long-term interests of shareholders are taken into account. 

The Chief Executive of Solid Energy had his salary increased by about 400% before the company made huge losses and he resigned.

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