Your online guide to KiwiSaver, the Government superannuation scheme
“We are thrilled that from next year all KiwiSaver providers will be required to join NZ Funds in projecting member balances at retirement”, says Geoff Motion. NZ Funds first included retirement savings projections in 2018. “When we entered the KiwiSaver market in 2011, we drew on our then twenty-year heritage of managing New Zealanders wealth …
Continue reading “NZ Funds welcomes regulations to the party”
Inland Revenue needs to acknowledge that over-charging KiwiSaver members tax is a bigger problem than some not paying enough, one adviser says. It was revealed this week that IRD had determined 450,000 people were paying the wrong rate of tax on their KiwiSaver accounts and other managed funds. It had written to at least 120,000 …
Continue reading “Cliffe: KiwiSaver tax underpayment issues mask bigger problem”
KiwiSaver members will now see their projected savings for retirement and the likely weekly income it will provide on their annual statements, Commerce and Consumer Affairs Minister Kris Faafoi says. “By making this information easily available New Zealanders will be able to see whether they are on track for the kind of retirement they want …
Continue reading “KiwiSaver statements to include weekly income”
Research showing many New Zealanders are not on track for retirement proves the need for advisers, ASB says. Almost half of New Zealanders responding to the latest ASB KiwiSaver Survey thought they should be saving more than 10% of their income to fund their retirements but only 22% were doing so. ASB head of KiwiSaver …