Banks are hoping more guidance from the Financial Markets Authority will make it easier for them to advise their clients on switching between KiwiSaver funds and providers. In the FMA’s KiwiSaver report this month, it said there had been feedback from some providers that its KiwiSaver sales and advice guidance was getting in the way […]
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KiwiSaver furore gave advice boost
Media headlines about KiwiSaver funds’ exposure to ammunition investments have provided a boost to some financial advisers. In August, there was a public outcry when it was revealed that a number of funds had underlying investments in companies that made armaments. While that prompted a spark of interest in the details of KiwiSaver investments, some […]
KiwiSaver members almost triple their money
KiwiSaver members have gained about $2.50 for every $1 they have contributed to the scheme, Milford Asset Management data shows. The scheme is now nine years old. Individuals have invested $14 billion in their accounts over that time, but have $35 billion between them now. The $21 billion in gains is made up of $8 […]
MBIE releases proposed KiwiSaver changes
KiwiSaver providers should be required to disclose a range of extra information in their annual statements, including the total fee in dollar terms a member has paid during the year, the Ministry of Business, Innovation and Employment is suggesting. It has released a consultation document outlining proposed changes to annual statements for KiwiSaver, superannuation and […]