Some KiwiSaver providers are taking longer than they ought to carry out a requested transfer to another scheme. SOURCE OF DATA Speed and a lack of friction costs are essential for an efficient market. Since its inception in 2010 (two years after KiwiSaver was launched) the number of members in the NZ Funds KiwiSaver Scheme has grown year on year for …
Category Archives: KiwiSaver News
Young people should budget to live to 100, actuaries say
New Zealanders are getting information about how to build wealth, but not how to spend it, a group of actuaries says. The Retirement Income Interest Group of the New Zealand Society of Actuaries made a submission to the 2019 Review of Retirement Income Policies. They pointed out that longevity was increasing but New Zealanders were …
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Nikko attracts big balances
Nikko’s new KiwiSaver scheme is attracting savers with large balances, rather than large numbers of savers. The fund manager launched its robo-KiwiSaver in March. Managing director George Carter said it had been notable that those who moved their money to Nikko tended to have more saved. The average balance in Nikko’s KiwiSaver funds is now …
Life stages research shows big differences in outcomes
Lifestages funds are a better option for savers than default KiwiSaver funds, but they’re not all created equal, new research from MyFiduciary suggests. The research was commissioned by NZ Funds and reviewed the lifestages options available in New Zealand. Nine out of 22 KiwiSaver managers offer a lifestages option. These reduce the level of risk …
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