Default KiwiSaver provider Mercer is says there needs to be an improvement in disclosure requirements with KiwiSaver. Head of Mercer New Zealand Martin Lewington says the requirement thresholds default schemes have should be across the industry. He believes what happened with Huljich Wealth Management and its KiwiSaver funds was inevitable and that it has bought […]
Category Archives: KiwiSaver Articles
Same regime needed for all KiwiSaver trustees
Trustees respond to teh government’s comments over their role in supervising KiwiSaver schemes. “It’s important that trustees are fit for purpose, professional and independent”, Trustee Corporations Association chairman Clynton Hardy says. “The bottom line is that close to $5 billion, and rising, is invested in KiwiSaver schemes. “A KiwiSaver trustee’s job is no different from […]
KiwiSaver regulations fast tracked
Concerns over KiwiSaver fund management have led to the government fast tracking work to ensure the integrity of KiwiSaver is maintained for the 1.3 million people and $4.88 billion of their money invested in the scheme. Minister of Commerce Simon Power says in recent weeks there has been growing concern regarding the regulation of KiwiSaver […]
Annuities market a must with KiwiSaver
The government has proposed it will review the tax treatment of annuities in response to the Capital Markets Development (CMD) Taskforce recommendation and the financial adviser industry says the review is a must because of KiwiSaver. The CMD Taskforce recommended that the government should support the development of the annuities market and Taskforce chairman […]