Adviser calls to ditch default schemes

New Zealand may not need KiwiSaver default schemes at all, one adviser says. The Government is working through the process of appointing default providers for the next term. There are nine default KiwiSaver providers, and their terms of appointment expire on June 30. About 715,000 people are in default funds and more than half have […]

‘Retirees’ stick with KiwiSaver, AMP says

More people over the pension age are choosing to keep their KiwiSaver funds active, AMP Wealth Management says. “We’re seeing fewer KiwiSaver clients withdrawing all their funds when they reach retirement age,” chief executive Blair Vernon said. “In fact, nearly 7% less than this time last year, representing about $4 million in KiwiSaver investments.” Vernon […]

KiwiSaver Insight

New Zealand deserves a level (default) playing field NZ Funds recently launched a free COVID-19 KiwiSaver hotline supported by independent advisers throughout the country. The phone line is open to clients of any KiwiSaver provider and promises no sales or products, just generic KiwiSaver advice. Since its launch, the phone line has been inundated with calls from anxious investors whose savings are with large state-appointed […]