ANZ New Zealand Investments has dropped its annual membership fee from all its managed KiwiSaver schemes. ANZ Investments will remove the $18 annual membership fee from its ANZ KiwiSaver Scheme, ANZ Default KiwiSaver Scheme and its OneAnswer KiwiSaver Scheme. It will also reduce management fees of its Conservative Funds (excluding the Default Fund) and Conservative […]
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KiwiSaver funds soar, non-contributors still a worry
More than 1.2 million KiwiSaver members did not invest in the scheme in the year to March 31, showing that while KiwiSaver has hit new heights in funds under management, there are big opportunities for providers and advisers. The Financial Markets Authority (FMA) has just released its KiwiSaver Annual Report for the year ended March […]
Experts ponder compulsory KiwiSaver
The number may be daunting – more than $1 million for a couple to retire comfortably – but many Kiwis won't have anything close to that in their KiwiSaver accounts by retirement age. So, should KiwiSaver be made compulsory? Considering 35% of New Zealanders over 60 don't know how much they need to retire comfortably, […]
MMC picks up another default KiwiSaver provider
Kiwi Wealth has followed BNZ and put administration of its default KiwiSaver Scheme on the MMC platform. MMC says this is an extension of its services to Kiwi Wealth. It will provide full registry services, as well as unit pricing and fund accounting for Kiwi Wealth’s Managed Funds and KiwiSaver products. By transitioning these services […]