People enrolling in KiwiSaver from now will no longer receive a $1,000 kick-start payment, Finance Minister Bill English says.
“KiwiSaver has been successful in attracting members, with 2.5 million New Zealanders having a KiwiSaver account and together receiving $2.5 billion in kick-start payments since the scheme started in 2007,” English says.
“However, it also has considerable costs for taxpayers. The Government will spend more than $850 million this year on two subsidies – the ongoing government subsidy of up to $521 a year per member and the $1,000 kick-start...MORE»
Thursday, May 21st, 6:00AM
Kiwis who think their retirement savings are sorted because they have signed up to KiwiSaver may get a nasty shock when they reach 65.MORE»
Tuesday, May 12th, 6:00AM
IRD is in talks with its counterpart in Britain after moves that have meant New Zealand KiwiSaver schemes can no longer accept British pension transfers without penalty.MORE»
Growth in retail funds under management was concentrated in KiwiSaver funds in the first quarter of this year, FundSource research shows.MORE»
ANZ is running a campaign to remind KiwiSaver members to contribute enough to get their $521 free from the Government.MORE»
Some KiwiSaver providers are incorrectly indicating the risk category of their funds, new research shows.MORE»
Capacity constraints are a looming issue for the KiwiSaver market to contend with as it grows, research house Morningstar says.MORE»
ANZ is reporting a surge in the number of customers wanting to use KiwiSaver to help buy their first home following the April 1 introduction of new regulations for KiwiSaver first-home withdrawals.MORE»