The Sorted website has been updated to include information for employers about the changes to KiwiSaver which come into effect on 1 April. From 1 April employees will be able to change their contribution to the scheme from 4% of their gross pay to 2%, while the compulsory employer contribution will increase from 1% to […]
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Stability key for KiwiSaver providers
Constant legislative changes to KiwiSaver are detracting from the original message behind the scheme of savings awareness and financial literacy. The Association of Superannuation Funds of New Zealand (ASFONZ), which promotes workplace savings, held two forums recently, in conjunction with Inland Revenue, which involved nearly all providers of KiwiSaver schemes. The Auckland and Wellington forums […]
KiwiSaver enters Reserve Bank stats with style
KiwiSaver was the only managed fund sector to grow in the three months to September this year, according to new figures published by the Reserve Bank.The latest Reserve Bank managed funds survey put total KiwiSaver funds under management at almost $1.8 billion at the end of September compared to just over $1 billion at June […]
KiwiSaver changes more work
The National Party’s proposed changes to KiwiSaver have some pros and cons for employers, consultancy firm Aventine says. The negatives are that KiwiSaver rules keep changing meaning more work for employers to comply with the scheme. The fact that there have already been changes such as to salary sacrifice, within the scheme’s first year of […]