The savings industry says new research shows a boost in KiwiSaver contributions would be a winner for the domestic sharemarket.
Commissioned by the Financial Services Council, the research by Infometrics concludes lifting combined employer and employee KiwiSaver contributions to 10% of income would give the sharemarket a boost of $90 billion by 2066.
Council chief executive Peter Neilson said that money could be used by fast-growing firms to invest in new jobs and technology.
But the Council of Trade Unions says well-established companies would be the biggest winners, as the firms most in need of investment capital are not on the stock exchange.
Business New Zealand chief executive Phil O'Reilly agreed a bigger sharemarket is good for the economy but said forcing people to put more into Kiwisaver is not the ideal way to go to about it.
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