The Government is cautiously supportive of including higher KiwiSaver contribution rate options and “increasing KiwiSaver coverage” but cannot say yet what that might mean. Commerce and Consumer Affairs Minister Jacqui Dean has released the Government’s response to the Retirement Commissioner, Diane Maxwell’s, review of retirement income policies. Maxwell made a range of recommendations as part […]
Category Archives: KiwiSaver News
$2m ANZ KiwiSaver processing error to be fixed
More than 50,000 of ANZ’s KiwiSaver members will receive an additional member tax credit due to processing errors amounting to about $2 million. ANZ is making a claim on behalf of impacted KiwiSaver members to Inland Revenue for the additional member tax credits to be credited to those customers’ KiwiSaver accounts. Those affected are people […]
Time for sinking cap on KiwiSaver fees: Glass
KiwiSaver providers should not be allowed to charge a fee of more than 100 basis points – and if they cannot run their funds on that, they should not be in business, says Paul Glass, executive chairman of Devon Funds Management. He said the retirement savings scheme needed to be made compulsory and the NZ […]
Kiwis leaving retirement planning too late
New Zealanders are leaving their retirement planning too late, one KiwiSaver provider says. Kiwi Wealth offers a Future You retirement forecasting tool to help people determine whether they are on track for their savings. But a third of its users so far have been aged over 44 and two-thirds are over 45. Head of retail […]