 Winston Peters has critiqued KiwiSaver as a 'billion dollar rort' by the finance industry and proposed alternatively that private KiwiSaver funds should be invested in a government run "KiwiFund" which would invest mainly in New Zealand assets and infrastructure.Russel Norman of the Green Party has earlier proposed directing KiwiSaver funds into the New Zealand Superannuation Fund (also known as the "Cullen Fund") to reduce high fees paid to financial industry.It was announced on 30 August 2007 that nearly 130,000 New Zealanders had signed up for the scheme.