The value of assets invested in KiwiSaver has jumped 30% in the last year, but the Government is now chipping in a lot less. The FMA has released its KiwiSaver report for the year ended June 30. It said investment had passed $16.5 billion. The number of KiwiSaver members had also increased almost 10%, to […]
Category Archives: KiwiSaver Articles
Reporting regime in effect
Information about KiwiSaver funds’ investments should be easier to access and understand from today. Under the new reporting regime, all providers must show on their website, in a standardised way, what fees are being charged and where money is invested. Although there has been scepticism about how much attention consumers will pay to that data, […]
‘Impartial advice’ a default requirement
KiwiSaver default providers will be forced to offer investment education and impartial financial advice, the Government has announced today. It has completed a review of the default scheme, which started last year, and issued a Cabinet paper in response. “This [education and advice] requirement should reduce the percentage of fund members who are inappropriately in […]
BNZ KiwiSaver Scheme hits $100m FUM
BNZ KiwiSaver Scheme has reached $100 million funds under management, just over six months following its launch in February this year. Head of wealth and Private Bank, Donna Nicolof attributes the BNZ KiwiSaver Scheme’s faster than expected growth to the accessibility and convenience of BNZ’s nationwide store network. “While some customers enjoy the ability to […]