Kiwis who think their retirement savings are sorted because they have signed up to KiwiSaver may get a nasty shock when they reach 65. David Boyle, group manager of investor education at the Commission for Financial Capability, said one of his biggest concerns about KiwiSaver was that savers would think that, having signed up, they …
Category Archives: KiwiSaver News
KiwiSaver schemes lose QROPS status
IRD is in talks with its counterpart in Britain after moves that have meant New Zealand KiwiSaver schemes can no longer accept British pension transfers without penalty. A Qualifying Recognised Overseas Pension Scheme (QROPS) is a scheme that meets requirements set out by Britain’s HM Revenue and Customs (HMRC). British migrants can transfer their UK …
KiwiSaver drives managed funds lift
Growth in retail funds under management was concentrated in KiwiSaver funds in the first quarter of this year, FundSource research shows. Its Retail Managed Funds Industry Trends and Market Composition report for the March 2015 quarter shows KiwiSaver inflows of $987 million. That was up from $949 million in the December quarter of 2014. Total …
KiwiSavers reminded not to miss out
ANZ is running a campaign to remind KiwiSaver members to contribute enough to get their $521 free from the Government. The campaign will run for two months. The Government provides $521 as a member tax credit each year to KiwiSaver members who contribute at least $1042 to their accounts in the year ended June 30. …