The government’s decision to delay KiwiSaver auto-enrolment until the Budget is back in surplus has been criticised by default provider Mercer. The Government announced at last year’s Budget that it planned to introduce auto-enrolment in 2014; however, at yesterday’s announcement of this year’s Budget it confirmed the plan had been put on hold. “The Government […]
Category Archives: KiwiSaver Articles
Advisers losing favour with KiwiSaver investors
Financial advisers are losing popularity as a source of information for KiwiSaver members, who prefer to go to product providers or their employers, according to new research. The Mercer KiwiSaver Sentiment Index Study found only 19% of respondents preferred to go a financial adviser for information about the scheme, down from 23% in the last […]
KiwiSaver providers wary of more regulations
Imposing more regulations on KiwiSaver funds could stifle the best performers, says Fidelity Life chief executive Milton Jennings. Financial Markets Authority chief executive Sean Hughes said there were gaps in the rules relating to KiwiSaver schemes. He says there should be more co-operation between regulators, and suggests “there is no prudential supervision for KiwiSaver.” Prudential […]
KiwiSaver safe from Budget scalpel
After years of repeated tinkering in successive Budgets, KiwiSaver looks set to finally be left alone this year. Prime Minister John Key has announced in a pre-Budget speech that there will be no changes to KiwiSaver tax credits. Last year’s budget saw the government halve the maximum yearly tax credit from $1040 to $520, a […]