NZ Funds Management has become the first KiwiSaver manager to have its KiwiSaver scheme portfolios researched by a third-party research house, and has called on all KiwiSaver schemes to undergo a qualitative review. Three portfolios in the NZ Funds KiwiSaver scheme earned recommendations from Australian research house Lonsec, with Income Strategy receiving a ‘Highly Recommended’ […]
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Easier access to KiwiSaver cash for quake-affected Cantabrians
Commerce minister Simon Power has announced regulatory changes to make it easier for earthquake-affected Cantabrians to access their KiwiSaver cash. “The Government was concerned that some people may have been unable to make an early withdrawal of their KiwiSaver contributions under the significant financial hardship rules of the KiwiSaver regime,” he said. “So we have […]
KiwiSaver numbers up ahead of Budget
Total KiwiSaver membership rose 1.8% in March suggesting concerns about possible changes to incentives and an improving jobs market, according to default KiwiSaver provider Tower Investments. “March saw a sharp lift in KiwiSaver sign-ups, with net total membership rising 1.8% for the month and closing on 1.7 million members,” said Tower Investments CEO Sam Stubbs. […]
The Morningstar view on KiwiSaver reporting
Regulation for KiwiSaver schemes should place investors at the fore and not be led by product providers, and payments to advisers at the cost of investors should be disclosed, according to Morningstar. In its submission to the Ministry of Economic Development (MED) Periodic Reporting Regulations for Retail KiwiSaver Schemes Discussion Paper Morningstar also said improved […]