Your online guide to KiwiSaver, the Government superannuation scheme
KiwiSaver should be adjusted so that money cannot be withdrawn in the event of any hardship, in order to clear up confusion about bankruptcies, says one provider. The system is in the spotlight because the Official Assignee, part of the Insolvency and Trustee Service, has started High Court litigation to clarify its rights to withdraw …
Continue reading “KiwiSaver used to pay bankrupts’ creditors”
AMP Wealth KiwiSaver members will be transferred to the AMP KiwiSaver scheme in August. The move was first proposed in February and AMP says the scheme will incorporate some of the benefits of the Wealth scheme but will offer lower fees and a wider range of investment options. It is still awaiting FMA approval. The …
Many KiwiSaver investors are choosing to leave schemes run by their banks, new research shows. For the year ended March 31, the five major banks collectively had 28,139 members transfer out of their KiwiSaver funds, which represented 58.7% of the number that transferred in. “The negative association between fund and member flows and the KiwiSaver …
AMP has implemented changes to the make-up of its KiwiSaver funds in response to a review of its strategic asset allocation. The AMP KiwiSaver Scheme Default Fund will reduce its cash allocation and increase its holdings in New Zealand and global bonds. And AMP KiwiSaver Scheme non-Default members will now have a dedicated stake in …