New Zealand may not need KiwiSaver default schemes at all, one adviser says. The Government is working through the process of appointing default providers for the next term. There are nine default KiwiSaver providers, and their terms of appointment expire on June 30. About 715,000 people are in default funds and more than half have […]
Author Archives: admin
Treasury, MBIE mull options for KiwiSaver default scheme
Treasury wanted a reallocation of KiwiSaver default members so that each default scheme had a similar number of members, a regulatory impact statement shows. The Government is working through tappointing KiwiSaver default providers for the next term, which starts next year, through a tender process. At the moment, there are just under 690,000 people in […]
‘Retirees’ stick with KiwiSaver, AMP says
More people over the pension age are choosing to keep their KiwiSaver funds active, AMP Wealth Management says. “We’re seeing fewer KiwiSaver clients withdrawing all their funds when they reach retirement age,” chief executive Blair Vernon said. “In fact, nearly 7% less than this time last year, representing about $4 million in KiwiSaver investments.” Vernon […]
KiwiSaver Insight
New Zealand deserves a level (default) playing field NZ Funds recently launched a free COVID-19 KiwiSaver hotline supported by independent advisers throughout the country. The phone line is open to clients of any KiwiSaver provider and promises no sales or products, just generic KiwiSaver advice. Since its launch, the phone line has been inundated with calls from anxious investors whose savings are with large state-appointed […]