The deepest recession in more than 30 years has failed to dent New Zealanders’ appetite for KiwiSaver, according to the latest update by the tax department. Over the past six months, some 190,000 New Zealanders have signed up to the government-sponsored retirement scheme, taking total enrolments to more than 1.1 million. The trend has mirrored […]
Category Archives: KiwiSaver News
KiwiSaver growth funds bounce back into positive territory
After a difficult 18 months KiwiSaver growth funds were the stand out performers in the quarter to June 30, 2009 producing a median return of 7.9% according to Mercer’s KiwiSaver Survey. The best performing growth fund over the quarter was the Mercer High Growth Fund (+12.2%), while the Fidelity Life Growth Fund was the best […]
KiwiSaver law changes expensive for employers
The “total remuneration” approach to KiwiSaver has been effectively banned in legislation rushed through Parliament under urgency last week.In essence, the new law says a KiwiSaver member cannot be offered lesser terms (or be otherwise disadvantaged) in comparison with a “comparable” non-member employee of similar skills, experience and circumstances. The government’s rapid U-turn on total […]
Employers backing away from super aid, study finds
Employers are increasingly unwilling to provide one-on-one professional financial assistance to their employees in superannuation plans, according to a survey released last week by the Retirement Policy and Research Centre (RPPC). The Top 100 report, which surveyed 52 of New Zealand’s largest employers, found only 25% of respondents offered one-to-one help with their employees’ retirement […]