Mercer floats new retirement product idea
There is a need to develop new products in New Zealand’s annuity and decumulation markets according to Mercer’s head of retirement, risk and finance Paul Newfield.
He says one in four New Zealanders will be over the age of 65 by 2051 and there will be a 541% increase in New Zealander's over the age of 85. Newfield says no product or policy in isolation can simultaneously address all the risks faced by retirees. "This is a complex area with multiple and non-aligned risks which means any solution cannot be a one size fits all simple solution." He says the knee jerk reaction would be to develop a viable annuity market, however there are supply and demand issues in New Zealand ...MORE»
QFEs need regulatory assuranceTuesday, September 7th, 6:59AM
Qualifying Financial Entity (QFE) status, like authorisation, will have a shelf life and renewal process come into play which implies a need for regulatory assurance says Commissioner for Financial Advisers David Mayhew. MORE» |
Money Managers closes to make way for new firmsMonday, September 6th, 5:25AM
MMG Advisory Partners (formerly Money Managers), which was once the biggest financial advisory firm in New Zealand, is to be no more. MORE» |
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SBS takes margin hit to keep mortgage rates down
SBS Bank took a hit in the June quarter after deciding not to pass on rising wholesale interest rates to its customers.
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ISI says AON letter is not a problem
A letter from AON to insurance customers suggesting they should switch their cover to Sovereign has provoked accusations of churning from some advisers however the Investment Savings and Insurance Association (ISI) says it is not a problem.
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QFEs need regulatory assurance
Qualifying Financial Entity (QFE) status, like authorisation, will have a shelf life and renewal process come into play which implies a need for regulatory assurance says Commissioner for Financial Advisers David Mayhew.
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Dorchester appoints general manager, insurance and lending
Dorchester today announced that is has appointed Greg Main to the role of general manager, insurance and lending.
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Govt wants SCF sold as going-concern
Prime Minister John Key would prefer a sale of failed financier South Canterbury Finance in one hit, as a going concern, as the receivers call for expressions of interest in the firm’s assets.
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Dorchester appoints general manager, insurance and lending
Dorchester has appointed Greg Main to the role of general manager, insurance and lending MORE»
