Former deputy prime minister and finance minister Sir Michael Cullen says the need for an annuity provider to help KiwiSaver members manage their lump sums on retirement is another sign of the scheme’s success. He recently joined the board of the Retirement Income Group (RIG). RIG manages New Zealand’s only variable annuity, Lifetime Retirement Income. […]
Category Archives: KiwiSaver Articles
Simplicity’s growth fund posts early success
KiwiSaver provider Simplicity’s managing director Sam Stubbs says his funds’ first reported performance data are like “winning a bronze medal in your first event” despite a poor showing from its conservative fund. Morningstar has released its KiwiSaver survey for the December quarter. Kiwi Wealth’s growth fund was a standout performer, thanks in part to its […]
KiwiSaver quake moves spark warning
Government is making it easier for earthquake-affected KiwiSaver members to withdraw their money if they suffer financial hardship – but one adviser is warning it is not a good idea. Commerce Minister Paul Goldsmith announced this week that he had asked KiwiSaver scheme supervisors to expedite requests for early withdrawals for earthquake-affected people. “I also […]
Banks raise concern about ‘fee-chasers’
Bank KiwiSaver providers are worried that proposed changes to annual statement requirements could lead to members chasing the lowest-fee providers. The Ministry of Business, Innovation and Employment sought submissions on potential changes to the annual statement rules for KiwiSaver, including requirements that providers show members what income their accounts are on track to deliver in […]