KiwiSaver fees for the next round of default providers will be significantly lower than those charged at by the schemes at present, particularly for savers with smaller balances. The new nine default providers, assigned a seven-year term starting on July 1, are required to keep fees “reasonable”. Sources said the restrictions on default schemes’ fees […]
Category Archives: KiwiSaver Articles
Fees still too high: Morningstar
KiwiSaver funds’ fees stand in the way of them being given a gold rating in Morningstar’s research, its Australasia co-head of fund research says. Morningstar has just finished its latest round of research, covering nine KiwiSaver providers managing the bulk of the country’s KiwiSaver funds. Chris Douglas said overall, New Zealanders should be optimistic about […]
Kiwis getting savvier about retirement savings
New Zealanders are becoming much more engaged with KiwiSaver as their balances creep up, says ANZ’s head of wealth, John Body. The bank today released its latest Retirement Savings Confidence Barometer, which showed that people were a lot less confident about reaching their savings targets when they were adjusted for inflation. The bank has changed […]
Kiwibank merger details due mid-year
Kiwibank is hoping to send out details of the merger of its two KiwiSaver schemes by the middle of this year. Kiwi Wealth Management, owned by Kiwi Group Holdings, which also owns Kiwibank, bought Gareth Morgan Investments Ltd Partnership, including its KiwiSaver scheme, in 2012. It has planned to transfer members over from the AMP-managed […]