Although Westpac missed on on being getting default provider status with KiwiSaver, it has done well in attracting people.Westpac says that one in every five people who has actively chosen a KiwiSaver scheme has selected the Westpac KiwiSaver scheme.
The Westpac scheme, is run by its investment subsidiary BT Funds.
BT Funds senior product manager Roger Clayton says that attracting one in five people who are actively selecting their KiwiSaver scheme is encouraging considering there are around 45 schemes to choose from.
“In just over four months over 30,000 investors have chosen Westpac KiwiSaver,” he says.
Clayton said the Westpac KiwiSaver scheme keeps it simple for investors and offers an easy choice of five investment funds including an innovative capital protection plan.
“Westpac’s KiwiSaver-trained staff and extensive branch network enables people to understand KiwiSaver and directly obtain information face to face.”