There’s a suggestion New Zealand KiwiSaver schemes could face a fee crackdown similar to that being suggested in Australia.
Australia Financial System Inquiry chair David Murray has set a deadline of 2020 for the MySuper default super regime to produce results, and says if it doesn’t, it should be replaced.
Among the inquiry’s 44 formal suggestions are potential shake-ups to the default fund selection process. Murray said the Government should see the impact of MySuper on fees.
“We have recommended that MySuper be replaced with a competitive mechanism for allocating default members to the best funds if MySuper has failed to deliver significant fee reductions by 2020,” Murray said...MORE»
Thursday, December 11th, 3:33PM
Women are feeling less confident about reaching their retirement savings goals, according to ANZ’s latest retirement savings survey.MORE»
Thursday, December 4th, 10:43PM
A Bill that will allow KiwiSaver members to withdraw their Government tax credits as well as their and their employers’ contributions has had its first reading in parliament.MORE»
KiwiSaver members who are engaged with their retirement savings are better placed to take action throughout their lives to reach their goals, ANZ’s general manager of wealth products and marketing, Ana-Marie Lockyer, says.MORE»
KiwiSaver members are being told to consider the impact of tax on their investments.MORE»
More than twice as many KiwiSaver customers switched provider in the past year than in the same period the year before - prompting the FMA to warn that transfers must be done in the best interest of the customer.MORE»
AMP has announced it will offer a free accidental death benefit up to $100,000 to existing AMP KiwiSaver scheme members and those who join before the end of 2014.MORE»
ANZ Investments says KiwiSaver members missed out on $400 million in member tax credits from the Government in the last year.MORE»