More than 40% of people who want to have retirement income on top of NZ Super want at least $500 extra a week, ANZ’s latest Retirement Savings Confidence Barometer shows. For 20 years, that would require a lump sum at retirement of about $400,000. At the moment, more than half of pensioners survive solely on […]
Category Archives: KiwiSaver News
Growth funds report strong returns
None of the KiwiSaver funds monitored by Morningstar have experienced negative returns over any of the one-, three- or five-year monitoring periods, which co-head of fund research Chris Douglas says has come as a pleasant surprise. Morningstar yesterday released its KiwiSaver Performance Survey to March 31. Douglas said the first quarter of the year had […]
Family and friends NZers source of KiwiSaver advice
A KiwiSaver model is needed that makes it possible for financial advisers to provide the level of advice the KiwiSaver members need, in a way that is also cost-effective for advisers, says the author of a new report on the scheme. The Financial Services Institute of Australia commissioned Claire Matthews, of Massey University’s Centre for […]
TOWER sale settles
Fisher Funds is now the biggest New Zealand-owned and managed KiwiSaver provider, after the acquisition of TOWER investments. The $79 million deal settled today, leaving Fisher Funds with 269,000 customers and $5.5 billion under management. Managing director Carmel Fisher said: “We are proud of Fisher Funds’ journey to date, one that has seen us attract […]