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More than 50,000 of ANZ’s KiwiSaver members will receive an additional member tax credit due to processing errors amounting to about $2 million. ANZ is making a claim on behalf of impacted KiwiSaver members to Inland Revenue for the additional member tax credits to be credited to those customers’ KiwiSaver accounts. Those affected are people […]

KiwiSaver providers should not be allowed to charge a fee of more than 100 basis points – and if they cannot run their funds on that, they should not be in business, says Paul Glass, executive chairman of Devon Funds Management. He said the retirement savings scheme needed to be made compulsory and the NZ […]

New Zealanders are leaving their retirement planning too late, one KiwiSaver provider says. Kiwi Wealth offers a Future You retirement forecasting tool to help people determine whether they are on track for their savings. But a third of its users so far have been aged over 44 and two-thirds are over 45. Head of retail […]

The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools, when they hit 56 years old. The pilot study is designed to examine if adjusting communications sent to ANZ KiwiSaver members at age 56, and users of their “lifetimes” investment […]