Labour has floated the idea of forcing KiwiSavers to keep their money in New Zealand, as well as making the scheme compulsory. Labour’s finance spokesman David Parker raised the possibility of preventing KiwiSaver funds being moved overseas in an interview on TV3 programme The Nation on the weekend. He mentioned it as an option, while […]
Category Archives: KiwiSaver News
KiwiSaver auto-enrolment delay disappointing
The government’s decision to delay KiwiSaver auto-enrolment until the Budget is back in surplus has been criticised by default provider Mercer. The Government announced at last year’s Budget that it planned to introduce auto-enrolment in 2014; however, at yesterday’s announcement of this year’s Budget it confirmed the plan had been put on hold. “The Government […]
Advisers losing favour with KiwiSaver investors
Financial advisers are losing popularity as a source of information for KiwiSaver members, who prefer to go to product providers or their employers, according to new research. The Mercer KiwiSaver Sentiment Index Study found only 19% of respondents preferred to go a financial adviser for information about the scheme, down from 23% in the last […]
KiwiSaver providers wary of more regulations
Imposing more regulations on KiwiSaver funds could stifle the best performers, says Fidelity Life chief executive Milton Jennings. Financial Markets Authority chief executive Sean Hughes said there were gaps in the rules relating to KiwiSaver schemes. He says there should be more co-operation between regulators, and suggests “there is no prudential supervision for KiwiSaver.” Prudential […]