Most New Zealanders support making KiwiSaver compulsory and believe it would be in New Zealand’s best interest, according to new research by the Financial Services Council. A Horizon Research poll of 3,177 adult New Zealanders commissioned by the FSC found that 74% think New Zealand should, over time, introduce a retirement savings scheme in which […]
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Advisers lack ‘persuasive message’ around KiwiSaver
Advisers are ideally positioned to help tackle the looming retirement savings shortfall but are failing to convince KiwiSavers of the value of advice, says Mercer NZ head Martin Lewington. “I don’t think financial advisers are getting out there and having a persuasive message to KiwiSavers,” he said. “Some media [reports] over the weekend said they’re […]
Labour eyes locking KiwiSaver funds in NZ
Labour has floated the idea of forcing KiwiSavers to keep their money in New Zealand, as well as making the scheme compulsory. Labour’s finance spokesman David Parker raised the possibility of preventing KiwiSaver funds being moved overseas in an interview on TV3 programme The Nation on the weekend. He mentioned it as an option, while […]
KiwiSaver auto-enrolment delay disappointing
The government’s decision to delay KiwiSaver auto-enrolment until the Budget is back in surplus has been criticised by default provider Mercer. The Government announced at last year’s Budget that it planned to introduce auto-enrolment in 2014; however, at yesterday’s announcement of this year’s Budget it confirmed the plan had been put on hold. “The Government […]