KiwiSavers' nest eggs should be transferred into a state-guaranteed scheme at age 65 to provide them with incomes for life, pensions experts say.The proposal, dubbed KiwiSpend, came in a report prepared for the Commission for Financial Capability by Susan St John and Claire Dale from Auckland University's Retirement Policy and Research Centre.KiwiSpend could be used by people to supplement NZ Super to live comfortable lives in retirement, without running the risk of outliving their savings, seeing them eaten away by inflation, or lost in unsuccessful investments or financial exploitation, they said.
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