About 78% of New Zealanders support making KiwiSaver compulsory and 73% support an increase in contribution rates, according to a survey commissioned by the Financial Services Council. The council, whose members are KiwiSaver providers, said the survey of 2,000 people was conducted by CoreData. "As an additional indicator of support, over 75% of respondents thought …
Category Archives: KiwiSaver News
Westpac drops KiwiSaver fees
Westpac NZ is reducing fees on its KiwiSaver Scheme funds saying the drop will deliver significant savings for its more than 380,000 members. As well as removing its annual $12 administration fee, the bank is also cutting a range of fund charges by up to 39%. BT Funds Management NZ manages the Westpac KiwiSaver Scheme. …
ASB KiwiSaver comes out poorly in survey
ASB KiwiSaver ranks last for customer satisfaction, Consumer NZ survey finds. Just 43% of ASB customers were happy with the service they were getting. Consumer NZ chief executive Jon Duffy said ASB’s score was significantly below the market average of 55%. “ASB also scored below average on all our key satisfaction measures. Just 37% of …
KiwiSaver: Young Kiwis in the wrong fund
The FMA are calling on young Kiwis to check they are in the right KiwiSaver fund following the large-scale switching during Covid-19 market fluctuations. The regulator has shared data indicating over 12,000 KiwiSaver members aged 26-35 years old are sitting in lower risk or conservative funds after switching from higher-risk growth funds during Covid-19 market …