Kiwibank is hoping to send out details of the merger of its two KiwiSaver schemes by the middle of this year. Kiwi Wealth Management, owned by Kiwi Group Holdings, which also owns Kiwibank, bought Gareth Morgan Investments Ltd Partnership, including its KiwiSaver scheme, in 2012. It has planned to transfer members over from the AMP-managed […]
Category Archives: KiwiSaver News
Grosvenor plans to back its KiwiSaver scheme into Fidelity Life one
Grosvernor, which bought the Fidelity Life KiwiSaver scheme last year is planning to merge its scheme with the life company’s one – rather than the other way around. Grosvenor chief executive David Beattie says the proposed merger is being done this way around as the Grosvenor scheme is smaller. This, he says, makes it easier […]
Lack of knowledge no surprise to advisers
Advisers aren’t surprised at New Zealanders’ low levels of understanding about KiwiSaver. Mercer has released its latest KiwiSaver Sentiment Index, which shows that while a third of New Zealanders think they have a good understanding of KiwiSaver, there are still some big gaps in their knowledge. Only 31% of working New Zealanders confidently understood that […]
Opt-in option could be popular
Schemes chosen as the new crop of KiwiSaver default funds this year may find there’s demand from investors who want to opt in, one financial services lawyer says. One of the conditions of being selected as a default provider for the next seven years is that the scheme must be open to people who choose […]