The majority of the Finance and Expenditure Committee doesn’t think a bill to make it harder for employers to include KiwiSaver contributions in employees' pay should be passed. The Employment Relations (Protection of KiwiSaver Members) Amendment Bill introduced by Labour bank bencher Dr Tracey McLellan last year, aims to restore some financial protections originally given […]
Category Archives: KiwiSaver News
KiwiSaver reform next steps – bail up a politician
The Retirement Commissioner has made her recommendations for improving KiwiSaver and wants help from members of the financial services industry to get politicians to actually read it. She also wants the financial advice sector to get some cohesive messaging about products and services for retirement planning. Speaking on a Harbour Asset Management webinar about the […]
KiwiSaver not hot on Kiwi markets
KiwiSaver funds under management increased 7.2% for the first quarter of the year (from $107.5 billion to $115.2 billion) to deliver 18.6% over the previous 12 months, but the value of NZ assets fell for the quarter. The value of KiwiSaver NZ assets decreased 4.17%, from $49.1b at the end of December 2023 to $47.1b […]
No shift on KiwiSaver balance gender gap
New KiwiSaver analysis for 2023 shows the 25% gap between men and women’s balances did not improve over the year. The average KiwiSaver balance at Dec 31 2023 was $31,823, an increase of 16.2% ($4,444) from the previous year, shows research by Melville Jessup Weaver (MJW) for Te Ara Ahunga Ora Retirement. The increase reflects […]