Budget change a headache for providers

Axing of the $1000 kickstart payment for KiwiSaver has been a headache for providers. The Government announced in its Budget this year that it would no longer offer the kickstart, effective immediately. It gave providers less than two months to update their marketing material and other documentation to reflect the changes. Brian Henry, managing director […]

[BUDGET] New KiwiSaver members miss out on Kick Start

People enrolling in KiwiSaver from now will no longer receive a $1,000 kick-start payment, Finance Minister Bill English says. “KiwiSaver has been successful in attracting members, with 2.5 million New Zealanders having a KiwiSaver account and together receiving $2.5 billion in kick-start payments since the scheme started in 2007,” English says. “However, it also has […]

KiwiSaver members not on track

Kiwis who think their retirement savings are sorted because they have signed up to KiwiSaver may get a nasty shock when they reach 65. David Boyle, group manager of investor education at the Commission for Financial Capability, said one of his biggest concerns about KiwiSaver was that savers would think that, having signed up, they […]