Financial advice offered to whole households or communities would have more of a lasting impact, new research suggests. Annie Zhang, a corporate finance senior analyst at KPMG and Massey University PhD student, analysed a database of one bank and four KiwiSaver providers’ members to determine what drives investor behaviour. Less than 20% of the investors […]
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KiwiSaver for first homes gets boost: ANZ
ANZ is reporting a surge in the number of customers wanting to use KiwiSaver to help buy their first home following the April 1 introduction of new regulations for KiwiSaver first-home withdrawals. ANZ Wealth managing director John Body said ANZ’s customer contact centre received more inquiries about KiwiSaver first-home withdrawals in the first week of […]
Bankrupt KiwiSaver accounts off-limits
KiwiSaver account-holders who go bankrupt will not have to hand over their retirement savings, a court has ruled. The Court of Appeal has decided that a bankrupt’s KiwiSaver account is off limits to the Official Assignee. The decision has a potentially wide impact – in January there were 5559 bankrupts with KiwiSaver accounts worth more […]
Should KiwiSavers be allowed their lump sums?
Australian moves to limit retirees’ ability to withdraw their superannuation savings as a lump sum have prompted mixed reactions from New Zealand KiwiSaver providers. Australian Treasury executive director and chief operating officer John Lonsdale said recommendations from the financial system inquiry to overhaul the country’s superannuation scheme were likely to be adopted. A key finding […]