Press releasePreparations for the 1 July introduction of KiwiSaver advanced today with the signing of an Order in Council that bring into effect both the annual fee subsidy to be paid to members and the rules governing the use of KiwiSaver to help repay the mortgage on the family home. “We welcome these legislative changes, […]
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More KiwiSaver incentives required: Poll
Changes to KiwiSaver announced in this year’s Budget have turbo-charged the semi-sompulsory savings scheme, however they don’t go far enough. A poll of senior finance industry representatives conducted by Finsia, the Financial Services Institute of Australasia, reveals that majorty of respondent want more incentives in the scheme. Finsia says that 57% believe “that more incentives […]
NZX joins KiwiSaver race
NZX investment subsidiary Smartshares is launching a Kiwisaver scheme. Called SmartKiwi, the company believes that KiwiSaver will deliver strong benefits to New Zealand’s capital markets, and the economy at large. The SmartKiwi offering will have three investment options to choose from, a high growth option consisting of equities only, split between NZX and ASX stocks; […]
Will KiwiSaver force employers to consider
“Employers who struggle to pay KiwiSaver contributions may face a double whammy paying out extra on redundancy payments if they try to downsize,” say Ernst & Young KiwiSaver spokespeople Jo Doolan and Aaron Quintal.Press release – Ernst & Young “For employees who are members of KiwiSaver, any redundancy payments will be subject to KiwiSaver contributions […]