Tax on KiwiSaver should be an election issue this year, the Financial Services Council says. In comments prepared for the Retirement Policy Research Centre’s forum Retirement Income Policy: the future is now, FSC chief executive Peter Neilson said: “Only 8% of New Zealanders think they will be comfortable in retirement on the $282 a week […]
Category Archives: KiwiSaver News
The Co-operative Bank joins KiwiSaver
The Co-operative Bank is to start distributing Fisher Funds’ KiwiSaver products even though rival bank TSB is a shareholder in the fund manager. The Co-oeprative Bank chief executive Bruce McLachlan says KiwiSaver is now a core banking product that had to be added to its offering to customers. After looking at the various offerings in […]
Case leaves bankruptcy questions unanswered
There are calls for a law change to provide clarity on what happens to a KiwiSaver account when someone is declared bankrupt. The High Court recently ruled that bankrupts’ existing savings in a KiwiSaver scheme are available to be distributed by the Official Assignee to creditors, but only after the KiwiSaver member qualifies to withdraw […]
Another KiwiSaver scheme closes
The Law Retirement KiwiSaver Scheme (LRKS) which is managed by Diversified Wealth Management closed to new members on April 1. The scheme, for legal professionals, has two funds, with just over $5 million in funds under management and 382 members. Orginally Diversified was the adviser to the scheme but took over managing it around 18 […]