Changes to the number and nature of KiwiSaver default scheme providers is “worth examining in slower time”, according to a Treasury paper on Budget 2011 KiwiSaver reforms. The paper, dated February 18, is one of a host released by the Treasury last week relating to Budget 2011. The paper also revealed Ministers rejected proposals for […]
Category Archives: KiwiSaver Articles
KiwiSaver changes “chip away at certainty around retirement planning”
Budget changes to KiwiSaver may make the scheme less attractive for people to join, according to Tower Investments CEO Sam Stubbs. “Perhaps more disconcerting for potential members is that KiwiSaver’s rules have been changed again by the Government, which starts to chip away at certainty around retirement planning arrangements.” Stubbs made the comments as default […]
ASB says KiwiSaver changes won’t put investors off
The government’s changes to the KiwiSaver scheme aren’t likely to put investors off it, says Ian Park, chief executive of retail banking at ASB Bank, the second largest KiwiSaver provider. “The scheme is such a good scheme, I think it will continue to see growth and new people joining,” Park says. He doesn’t expect the […]
KiwiSaver remains best saving option for most, says ISI
Despite the changes to KiwiSaver announced in the last Budget the scheme remains the best long term savings vehicle for most New Zealanders, according to the Investment Savings & Insurance Association (ISI). As expected the changes signalled by the Government include halving the Government-paid Member Tax Credit from July 1, making employer contributions subject to […]