MEDIA RELEASE

Simplicity has hired Shamubeel Eaqub as Chief Economist and Head of Policy, as it seeks to broaden its economic and policy influence.

Shamubeel will be joined by economist and policy researcher Rosie Collins. They will be focused on areas of economics and policy that are of interest to Simplicity in its role as a fund manager.

This includes KiwiSaver, housing, infrastructure and capital markets, areas in which Simplicity’s schemes are increasingly investing.

“With KiwiSaver, we can start by advocating to make it easier for more people to contribute—last year, 32 percent of Kiwis didn’t,” said Shamubeel Eaqub. “We can also advocate for increasing savings over time - we currently contribute 6 percent, while Australians are on track to reach 12%.” said Mr Eaqub.

“Additionally, the growing pool of savings can be better directed towards addressing critical needs, such as housing, infrastructure, and business growth capital - areas where we think KiwiSaver investment overall is largely untapped,” he said.

“These are exciting and much needed opportunities for New Zealand. I can't wait to get stuck into it,” said Mr Eaqub.

“To us, it says a lot that people of Shamubeel and Rosie’s quality wanted to join Simplicity,” said Sam Stubbs, Managing Director of Simplicity.

“We believe KiwiSaver is the most significant initiative, from any political party, in the last 20 years. It will help shape New Zealand, and getting the best out of the hundreds of billions Kiwis will save in KiwiSaver is going to be critical for our future. Just look at how superannuation savings have transformed Australia. They have five times our population, but 35 times our retirement savings,” said Mr Stubbs.

“Having someone of Shamubeel’s wisdom and experience will help us advocate for better outcomes for New Zealand,” he said.