KiwiSaver members shrugged off the only real downturn they have experienced because government incentives covered up its impact – but next time will not be so easy, new analysis suggests. The superannuation savings scheme has attracted many more members than was anticipated when it launched – it now has more than 2.7 million members and […]
Category Archives: KiwiSaver News
Work on incomes, global pension report says
There will be growing demand for retirement income products as KiwiSaver matures, the author of a new report on pension policy says. Mercer has this year expanded its Melbourne Mercer Global Pension Index to include New Zealand. The index reviews global pension systems and assesses the benefits they provide, their sustainability in the context of […]
FMA to KiwiSaver providers: We are getting impatient
KiwiSaver providers have been told they must do better, as the amount they earn in fees soars. Financial Markets Authority chief executive Rob Everett says KiwiSaver has now reached the size where providers might be able to trim fees, but that is not happening, and providers must do more to engage their members. The regulator […]
Simplicity offers income option
KiwiSaver provider Simplicity has signed a deal with variable annuity firm Lifetime Retirement Income, to provide a new KiwiSaver fund that offers retirees an income for life. It is launching the Simplicity Guaranteed Income Fund, which members can switch to as they approach retirement. Then they receive 5% of their final KiwiSaver balance for life, […]