IRD says it expects to reach a resolution with its British counterpart soon, after KiwiSaver schemes were removed from its list of recognised overseas pension schemes. New British legislation, which came in at the beginning of April, means any scheme that has qualifying registered overseas pension scheme (QROPS) status must not allow members to make […]
Category Archives: KiwiSaver Articles
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 […]
Removal of incentive means more work for advisers: Matthews
Financial advisers will have a bigger role to play in the distribution of KiwiSaver now the Government has dropped the $1000 kickstart incentive, a banking expert says. It was revealed in the Budget last week that the $1000 will no longer be available to new KiwiSavers. The payment has been in place since the scheme […]
[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 […]