Author Archives: admin

Why have so few employers chosen a preferred provider scheme? The March 2017 FMA KiwiSaver Annual Report showed that 20,004 employers have a preferred KiwiSaver scheme. As IRD records show that over 200,000 companies deduct PAYE, this suggests less than 10% of all employers have a preferred scheme. This is lower than was originally intended when KiwiSaver was […]

A new bill hopes to address low contribution rates in the retirement savings scheme. The Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Bill has been introduced to Parliament, introducing enhancements to KiwiSaver in line with the Retirement Commissioner’s December 2016 review of retirement income policy. Among the changes it would introduce […]

Investors who work with advisers are on track to achieve better outcomes in their KiwiSaver accounts. Data from ANZ and Booster shows that KiwiSaver members who work with advisers have more allocation to growth assets. At Booster, investors aged between 17 and 32 have 30% higher exposure to growth assets, which chief investment officer David […]

Commission should be banned for financial advisers offering advice on KiwiSaver, Milford Asset Management chief executive Troy Swann has told an even in Auckland. The Commission for Financial Capability this week held its annual summit. A panel was asked for views on how KiwiSaver should be changed, as it goes into its second decade of […]