KiwiSaver funds bankroll community housing

Generate and Caresaver KiwiSaver are backing a community housing initiative seeking to raise $100 million in funding for as many as 300 low-cost houses, much of it to be built on unused urban church land. Community Finance said it had reached the halfway stage of its Aotearoa Pledge targets, with cornerstone commitments of $10m each …

IRD to fork out $6.6 million for KiwiSaver pay delay

After delays due to a move to a new technology platform, the IRD are having to compensate many KiwiSaver accounts to the tune of $6.6 million. Compensation of $6.6 million will be paid by the Inland Revenue Department to KiwiSaver members whose payments were delayed by a move to a new technology platform last year. …

Default KiwiSaver: Which providers are fighting to keep their status?

[Updated] Despite a shroud of secrecy from MBIE, Good Returns can report that 7/9 default KiwiSaver providers have applied to retain their status, with two notable exceptions keeping quiet. It may well be the biggest shake up in the history of KiwiSaver. As the KiwiSaver default fund providers which were appointed by the Minister of …

MJW KiwiSaver survey reveals balanced and growth fund overlaps

A survey by MJW Investments looking at the performance of KiwiSaver funds over the last ten years reveals a large overlap between balanced and growth funds. With KiwiSaver now at $62 billion FUM, the superannuation scheme has enough data behind it for the numbers to tell an interesting story when analysed. A recent MJW Investments …