OnePath and ASB remain the dominant players in the KiwiSaver market, with 45.40% of KiwiSaver assets between them, according to the Morningstar KiwiSaver Performance Survey for the June quarter. Morningstar’s co-head of fund research, Chris Douglas, said that while KiwiSaver results for the second quarter were mixed, largely due to the high Kiwi dollar creating […]
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KiwiSaver membership tops 1.75m
Total KiwiSaver membership topped the 1.75 million mark in June despite a downturn in the sign-up rate, according to KiwiSaver provider Tower Investments. Chief executive Sam Stubbs said that while the membership milestone was passed, “growth rates for KiwiSaver sign-ups fell after the Government’s Budget announcements of late May.” “Anecdotal evidence indicated that public […]
Number of KiwiSaver default schemes ‘worth examining’
Changes to the number and nature of KiwiSaver default scheme providers is “worth examining in slower time”, according to a Treasury paper on Budget 2011 KiwiSaver reforms. The paper, dated February 18, is one of a host released by the Treasury last week relating to Budget 2011. The paper also revealed Ministers rejected proposals for […]
KiwiSaver changes “chip away at certainty around retirement planning”
Budget changes to KiwiSaver may make the scheme less attractive for people to join, according to Tower Investments CEO Sam Stubbs. “Perhaps more disconcerting for potential members is that KiwiSaver’s rules have been changed again by the Government, which starts to chip away at certainty around retirement planning arrangements.” Stubbs made the comments as default […]