KiwiSaver could be part of the solution to provide financial advice to older New Zealanders who do not have large amounts of money to invest, adviser Martin Hawes says. Hawes is also chair of the investment committee of the Forsyth Barr KiwiSaver scheme, Summer, and is on the board of variable annuity provider Lifetime. He […]
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NZ Funds welcomes regulations to the party
“We are thrilled that from next year all KiwiSaver providers will be required to join NZ Funds in projecting member balances at retirement”, says Geoff Motion. NZ Funds first included retirement savings projections in 2018. “When we entered the KiwiSaver market in 2011, we drew on our then twenty-year heritage of managing New Zealanders wealth […]
Cliffe: KiwiSaver tax underpayment issues mask bigger problem
Inland Revenue needs to acknowledge that over-charging KiwiSaver members tax is a bigger problem than some not paying enough, one adviser says. It was revealed this week that IRD had determined 450,000 people were paying the wrong rate of tax on their KiwiSaver accounts and other managed funds. It had written to at least 120,000 […]
KiwiSaver statements to include weekly income
KiwiSaver members will now see their projected savings for retirement and the likely weekly income it will provide on their annual statements, Commerce and Consumer Affairs Minister Kris Faafoi says. “By making this information easily available New Zealanders will be able to see whether they are on track for the kind of retirement they want […]