Morningstar reveals another bad quarter for KiwiSaver funds Market turmoil during the past six months has wiped $6.3 billion from KiwiSaver funds, $4.6 billion of it in the past three months. Morningstar’s KiwiSaver survey for the June quarter 2022 reveals KiwiSaver funds now hold $82.2b in assets, compared with $87.3b in the March 2022 quarter […]
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A cluster of ‘modest’ accounts: what KiwiSaver balances really look like
In what’s believed to be an industry first, the NZ Society of Actuaries has produced a report that analyses account-level data for a large segment of the KiwiSaver market. Until now, nothing been published about the actual balances of KiwiSaver’s 3.09 million members, with most statistics focusing on averages. For example, the FMA’s annual KiwiSaver […]
Financial Services Council defends KiwiSaver after criticism
The finance industry says it is improving the KiwiSaver system but it is a work in progress. A report by Consumer NZ found New Zealanders preferred non-bank providers such as Simplicity and Milford ahead of the schemes offered by most New Zealand banks. The report suggested people’s attitudes were soured by a market-led subsidence of […]
Voluntary savings continue in KiwiSaver – ASB
A significant minority of people are making voluntary contributions to their KiwiSaver schemes to take advantage of volatile market conditions, according to research by ASB. While most people do not pay extra, a total of 29% are paying more than they have to, said ASB senior economist Chris Tennent-Brown. The news of people paying extra […]