David Parker's idea, a Variable Savings Rate (VSR) could be recorded in history as an outstanding achievement, once it is deployed and tested.
Chris Trotter is wholeheartedly behind the idea, and here is a
link to his own blog item. A commentary from him similar to this, appeared in the Waikato Times today. Chris has been a bit disparaging of Labour direction over the last few months, so I take heart from his comments, he generally talks a lot of sense.
As far as the impact on the lower paid is concerned, I have found that generally these people have been the happiest at having the non-compulsory small percentage taken out of their wages and put into a savings fund. Other employees could easily afford a compulsory plan too. With this sort of money being available for NZ capital investments, it's a great tool to control the economy from its excesses.