Competition between KiwiSaver providers is intensifying as the growth in new members slows, a new analysis by the Financial Markets Authority suggests. The FMA’s annual KiwiSaver report, which covered 50 schemes, showed that in the year to March nearly $750 million was transferred between schemes, including just under $50 million transferred out of default funds. […]
Category Archives: KiwiSaver Articles
FMA confirms RFAs can sell KiwiSaver
The Financial Markets Authority (FMA) has released its final guidance on the sale and distribution of KiwiSaver, confirming the circumstances in which registered financial advisers (RFAs) can continue to sell the scheme. Sue Brown, the FMA head of primary regulatory operations, acknowledged there had been concern within the financial services industry about the extent to […]
Changes to KiwiSaver reports
The government is proposing changes to KiwiSaver fund reporting to help members better understand their funds The public will get a chance to have a say on proposed new rules for reporting of KiwiSaver funds. Commerce Minister Craig Foss said the rule change, signalled in this year’s budget, would help investor confidence. KiwiSaver schemes would […]
Savings confidence drops despite KiwiSaver growth
The continued rise of KiwiSaver has failed to prevent an unexpected drop in retirement savings confidence, but commentators say it is too early to tell whether the result is a temporary blip. ANZ’s latest Retirement Savings Confidence Barometer found 56% of New Zealanders who are saving toward their retirement are not confident they will reach […]