Your online guide to KiwiSaver, the Government superannuation scheme
A lack of independent advice for people entering KiwiSaver is a problem but will come right over time, says the chief executive of the Financial Services Council. In its recently released annual review the FSC has reiterated its call for a more favourable tax treatment of savings investments. It said one of its priorities was …
Continue reading “Lack of KiwiSaver advice will cure itself: Neilson”
The value of assets invested in KiwiSaver has jumped 30% in the last year, but the Government is now chipping in a lot less. The FMA has released its KiwiSaver report for the year ended June 30. It said investment had passed $16.5 billion. The number of KiwiSaver members had also increased almost 10%, to …
Information about KiwiSaver funds’ investments should be easier to access and understand from today. Under the new reporting regime, all providers must show on their website, in a standardised way, what fees are being charged and where money is invested. Although there has been scepticism about how much attention consumers will pay to that data, …
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 …