KiwiSaver default providers will be forced to offer investment education and impartial financial advice, the Government has announced today. It has completed a review of the default scheme, which started last year, and issued a Cabinet paper in response. “This [education and advice] requirement should reduce the percentage of fund members who are inappropriately in […]
Category Archives: KiwiSaver News
BNZ KiwiSaver Scheme hits $100m FUM
BNZ KiwiSaver Scheme has reached $100 million funds under management, just over six months following its launch in February this year. Head of wealth and Private Bank, Donna Nicolof attributes the BNZ KiwiSaver Scheme’s faster than expected growth to the accessibility and convenience of BNZ’s nationwide store network. “While some customers enjoy the ability to […]
Superlife: TSB not a major loss
Superlife says it is business as usual for the organisation, despite losing its distribution agreement with TSB. TSB took a 26.39% stake in Fisher Funds almost six months ago. Fisher is New Zealand’s biggest locally-owned KiwiSaver operator. Superlife has now been dropped from TSB’s website and details of the Fisher KiwiSaver are tipped to appear […]
AMP gets approval to combine schemes
AMP has been given the sign-off to combine its two KiwiSaver schemes. The FMA has approved the transfer of the AMP Wealth KiwiSaver Scheme members to its AMP KiwiSaver Scheme, which AMP says now has the strengths of both schemes. It will mean more than 260,000 members in the AMP KiwiSaver Scheme, with lower fees […]