Small businesses and those on low incomes would be negatively affected by Labour’s proposal to introduce a variable contribution rate for compulsory KiwiSaver, one banking expert says. The policy, part of an announcement by the party’s finance spokesman, David Parker, this week, called for the Reserve Bank to be given an additional tool: Instead of […]
Category Archives: KiwiSaver Articles
Support for changing KiwiSaver: FSC
There is support for removing the annual $521 KiwiSaver member tax credit to fund lower tax rates for the scheme, the Financial Services Council says. It has been lobbying for some time against what it says is preferential tax treatment for residential property investment compared to investment vehicles such as KiwiSaver. One of the suggestions […]
Make tax an election issue: FSC
Tax on KiwiSaver should be an election issue this year, the Financial Services Council says. In comments prepared for the Retirement Policy Research Centre’s forum Retirement Income Policy: the future is now, FSC chief executive Peter Neilson said: “Only 8% of New Zealanders think they will be comfortable in retirement on the $282 a week […]
The Co-operative Bank joins KiwiSaver
The Co-operative Bank is to start distributing Fisher Funds’ KiwiSaver products even though rival bank TSB is a shareholder in the fund manager. The Co-oeprative Bank chief executive Bruce McLachlan says KiwiSaver is now a core banking product that had to be added to its offering to customers. After looking at the various offerings in […]