The default Kiwisaver contribution rate could be due for a shakeup.

Finance Minister Nicola Willis is looking at upping the amount employees and employers contribute to their KiwiSaver accounts.

With an ever-increasing aging population, Willis explained she wants to ensure more Kiwis are financially secure in retirement. 

Simplicity co-founder Sam Stubbs has voiced support with these proposed changes.

"It's a recognition of the fact that we just have to save more for our retirement - because unless we do, national superannuation and the cost of health will eat up our current tax base."

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