KiwiSaver advice practices will always be a point of interest to the Financial Markets Authority, its director of markets oversight says. The FMA has released its latest KiwiSaver report, which shows the amount earned from the scheme’s investments doubled in the year to March from a year earlier. Assets increased by 33% to $28.5 billion. […]
Category Archives: KiwiSaver News
Problem of million non-contributing KiwiSaver members
AMP is calling for the one million New Zealanders who have stopped contributing to KiwiSaver on a regular basis to consider reinstating regular contributions in order to save for their retirement. Therese Singleton, general manager of investments and insurance at AMP, says: “More than one million KiwiSaver members across New Zealand have not made a […]
QROPS rules put stop to mergers
British migrants whose pensions are now trapped in KiwiSaver schemes are a roadblock for providers wanting to merge funds or acquire other schemes. It was reported last week that 12 members of Smartshares KiwiSaver face a tax bill of up to 55% if they move their money to the now NZX-owned SuperLife scheme. NZX has […]
KiwiSaver members want DIY approach
Most KiwiSaver members want to be able to take a DIY approach to their investments, ASB’s GM of wealth says. Jonathan Beale said the bank has seen a big increase in the number of people making voluntary KiwiSaver contributions since it allowed them to do so online. In 2014, the only way that people could […]