Only 9% of New Zealanders think the country’s superannuation is enough to live on in retirement, survey results released by the Financial Services Council show. About 65% said it was not enough to live on. Ten per cent said they were not sure and 15% were neutral. NZ Superannuation provides an individual $349 a week. […]
Category Archives: KiwiSaver News
The option to withdraw KiwiSaver fund to buy a first home should be retained but other changes made if default funds are changed to “life stages” settings, Mercer says. Mercer, one of the default providers, has about $800 million under management in KiwiSaver and Mercer’s New Zealand boss Martin Lewington said the first-home option has […]
TSB bought into a stake in a KiwiSaver fund manager without having any authorised financial advisers on staff. TSB became Fisher Funds’ second-largest shareholder, with a 26% stake, when it backed its acquisition of TOWER’s investment business last month. But its first priority now is upskilling its staff as it does not have anyone qualified […]
ASB is closing down its KiwiSaver scheme set up for advisers and is currently considering its future options for the product. It says that, as part of a review of its KiwiSaver schemes, it will no longer be accepting applications to join the FirstChoice KiwiSaver. First Choice differs from the ASB KiwiSaver scheme as it […]