A lack of independent advice for people entering KiwiSaver is a problem but will come right over time, says the chief executive of the Financial Services Council. In its recently released annual review the FSC has reiterated its call for a more favourable tax treatment of savings investments. It said one of its priorities was […]
Category Archives: KiwiSaver News
FMA reports on KiwiSaver
The value of assets invested in KiwiSaver has jumped 30% in the last year, but the Government is now chipping in a lot less. The FMA has released its KiwiSaver report for the year ended June 30. It said investment had passed $16.5 billion. The number of KiwiSaver members had also increased almost 10%, to […]
Reporting regime in effect
Information about KiwiSaver funds’ investments should be easier to access and understand from today. Under the new reporting regime, all providers must show on their website, in a standardised way, what fees are being charged and where money is invested. Although there has been scepticism about how much attention consumers will pay to that data, […]
‘Impartial advice’ a default requirement
KiwiSaver default providers will be forced to offer investment education and impartial financial advice, the Government has announced today. It has completed a review of the default scheme, which started last year, and issued a Cabinet paper in response. “This [education and advice] requirement should reduce the percentage of fund members who are inappropriately in […]