A Court of Appeal ruling has given KiwiSaver balances more protection than other retirement savings when someone enters bankruptcy – a situation that has the Ministry of Business, Innovation and Employment concerned. MBIE wants to change the law after the ruling put KiwiSaver funds beyond the reach of the Official Assignee. MBIE is seeking submissions […]
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Study to assess ways to help KiwiSaver members get better results
A trial has begun that will investigate the effectiveness of behavioral interventions to help KiwiSaver members make better financial decisions. The six-month project is an initiative from Kiwi Wealth, the Financial Markets Authority (FMA), the Commission for Financial Capability, and the Ministry for Business Innovation and Employment (MBIE). It will test how changes to the […]
Banks too dominant in KiwiSaver: Survey
New Zealand’s investment management industry is worried about the influence and domination of the big banks on KiwiSaver, a new survey has shown. BNP Paribas Securities Services has released the result of research undertaken with local superannuation funds, KiwiSaver providers, asset managers and financial adviser groups. New Zealand head Doug Cameron said the retirement savings […]
Stubbs launches not-for-profit KiwiSaver scheme
A new, low-fee KiwiSaver scheme being launched today will be a good fit for financial advisers who work on a fee basis, its managing director says. Former Tower Investments boss Sam Stubbs is launching Simplicity, a not-for-profit scheme run in the style of health insurer Southern Cross. It will be run by a charity and […]