New Zealanders with a mortgage have even more enthusiasm for compulsory KiwiSaver than New Zealanders generally, says the Financial Services Council. It had been suggested that those with a home loan might be less likely to support a compulsory retirement savings scheme if it meant it took them longer to pay off their mortgages. But […]
Category Archives: KiwiSaver Articles
Kiwis will miss out on comfortable retirement: FSC
Most middle income New Zealand employees are being sent down a road to a financially uncomfortable retirement, says the Financial Services Council (FSC). It has this week sent all MPs an Infometrics report detailing how retirement incomes for employees can be doubled while leaving the NZ Super pension in place. Chief Executive Peter Neilson said MPs […]
KiwiSaver withdrawal system sparks complaints
Problems withdrawing funds from KiwiSaver are prompting complaints to dispute resolution service providers. The Banking Ombudsman Scheme has had a 51% increase in KiwiSaver cases compared to last year and expects complaints to continue increasing as the value of KiwiSaver savings grows and participant banks take more of the market. There were 59 KiwiSaver complaints […]
Kiwis want to be forced to save: FSC
New Zealanders don’t agree with claims that they don’t have a savings problem, the Financial Services Council says. Michael Littlewood, co-director of the Univeristy of Auckland’s Retirement Policy Research Centre, said in an interview with Marcus Lush on Radio Live that New Zealand does not have a savings problem. But the FSC said that most […]