Your online guide to KiwiSaver, the Government superannuation scheme
New Zealanders are becoming much more engaged with KiwiSaver as their balances creep up, says ANZ’s head of wealth, John Body. The bank today released its latest Retirement Savings Confidence Barometer, which showed that people were a lot less confident about reaching their savings targets when they were adjusted for inflation. The bank has changed …
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Kiwibank is hoping to send out details of the merger of its two KiwiSaver schemes by the middle of this year. Kiwi Wealth Management, owned by Kiwi Group Holdings, which also owns Kiwibank, bought Gareth Morgan Investments Ltd Partnership, including its KiwiSaver scheme, in 2012. It has planned to transfer members over from the AMP-managed …
Grosvernor, which bought the Fidelity Life KiwiSaver scheme last year is planning to merge its scheme with the life company’s one – rather than the other way around. Grosvenor chief executive David Beattie says the proposed merger is being done this way around as the Grosvenor scheme is smaller. This, he says, makes it easier …
Continue reading “Grosvenor plans to back its KiwiSaver scheme into Fidelity Life one”
Advisers aren’t surprised at New Zealanders’ low levels of understanding about KiwiSaver. Mercer has released its latest KiwiSaver Sentiment Index, which shows that while a third of New Zealanders think they have a good understanding of KiwiSaver, there are still some big gaps in their knowledge. Only 31% of working New Zealanders confidently understood that …
Continue reading “Lack of knowledge no surprise to advisers”