Mercer has been given approval to combine its two KiwiSaver schemes into one. Managing director Martin Lewington said the FMA had agreed to it transferring its Mercer Super Trust KiwiSaver scheme members into the Mercer KiwiSaver scheme. “Combining our two KiwiSaver schemes ensures our KiwiSaver members have access to the best possible products and services […]
Category Archives: KiwiSaver News
IRD goes in to bat for QROPS status
IRD says it expects to reach a resolution with its British counterpart soon, after KiwiSaver schemes were removed from its list of recognised overseas pension schemes. New British legislation, which came in at the beginning of April, means any scheme that has qualifying registered overseas pension scheme (QROPS) status must not allow members to make […]
Budget change a headache for providers
Axing of the $1000 kickstart payment for KiwiSaver has been a headache for providers. The Government announced in its Budget this year that it would no longer offer the kickstart, effective immediately. It gave providers less than two months to update their marketing material and other documentation to reflect the changes. Brian Henry, managing director […]
Removal of incentive means more work for advisers: Matthews
Financial advisers will have a bigger role to play in the distribution of KiwiSaver now the Government has dropped the $1000 kickstart incentive, a banking expert says. It was revealed in the Budget last week that the $1000 will no longer be available to new KiwiSavers. The payment has been in place since the scheme […]