Your online guide to KiwiSaver, the Government superannuation scheme
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”
Schemes chosen as the new crop of KiwiSaver default funds this year may find there’s demand from investors who want to opt in, one financial services lawyer says. One of the conditions of being selected as a default provider for the next seven years is that the scheme must be open to people who choose …
KiwiSaver has changed New Zealand’s managed funds industry but it has had little effect on household finances so far, a superannuation researcher says. Michael Littlewood, co-director of Auckland University’s Retirement Policy and Research Centre, analysed the impact of KiwiSaver on New Zealanders’ finances, based on data from the Reserve Bank. “With 2.2 million members and …