Challenging underlying market conditions experienced over the September quarter were evident in returns listed in the Morningstar KiwiSaver Survey Q3. Average multisector category returns ranged from –1.3% for the Conversative category to –1.8% for the Growth Category. KiwiSaver assets ended the quarter at NZ$83.5 billion. Top performers over the quarter against their peer group includes: […]
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KiwiSaver 2022: higher fees, lower investment returns
New Zealand’s 3.168 million KiwiSaver members paid $692 million in fees in 2022, a 6.9% increase from the previous year. These fees – a combination of administration and management charges – chewed up more than half of members’ investment returns, which this year dropped 90% to $1.3b. Income from administration fees fell from $80.8m last […]
Petition starts for KiwiSaver sharing
The KiwiSaver company Kōura Wealth has started a petition to improve gender equity in retirement. The petition will urge parliament to change the KiwiSaver Act so that a couple’s contributions can be pooled. This would create a Contribution Sharing Scheme, under which couples, either married or de facto, could share their KiwiSaver contributions. This would […]
What KiwiSaver might look like in 2050
Retirement Commissioner Jane Wrightson is calling for KiwiSaver to be made compulsory and the minimum contribution rate ramped up to 5%. But she doesn’t think the current government will be brave enough to make these changes which, she believes, are needed for KiwiSaver to remain fit-for-purpose over the net 30 years. Wrightson thinks, however, […]