Government confirmation that changes will be made to the KiwiSaver scheme in the May 19 Budget have prompted fears more uncertainty will undermine savings efforts. The Government is believed to be considering cuts to the $20 a week Government subsidy which costs the taxpayer $662 million a year. Prime Minister John Key and Finance Minister […]
Category Archives: KiwiSaver News
Share performance boosts KiwiSaver returns over March quarter
Strongly performing shares helped offset natural disasters and economic uncertainty enabling KiwiSaver funds to post strong returns for the March quarter, according to the Morningstar KiwiSaver Performance Survey. “The strong returns from sharemarkets resulted in KiwiSaver funds with higher exposures to growth assets (shares and property) outperforming those with more invested in income assets (cash […]
Subsidies hampering KiwiSaver – OECD
KiwiSaver’s ability to raise overall savings and deepen capital markets is being hampered by “unfocused Government subsidies,” according to the OECD Economic Survey of New Zealand. In a wide ranging report on New Zealand, the OECD highlighted a number of reforms to KiwiSaver including changes to subsidies and the enrolment system as ways to boost […]
NZ Funds KiwiSaver gets thumbs up from Lonsec
NZ Funds Management has become the first KiwiSaver manager to have its KiwiSaver scheme portfolios researched by a third-party research house, and has called on all KiwiSaver schemes to undergo a qualitative review. Three portfolios in the NZ Funds KiwiSaver scheme earned recommendations from Australian research house Lonsec, with Income Strategy receiving a ‘Highly Recommended’ […]