The value of assets invested in KiwiSaver has jumped 30% in the last year, but the Government is now chipping in a lot less.
The FMA has released its KiwiSaver report for the year ended June 30. It said investment had passed $16.5 billion.
The number of KiwiSaver members had also increased almost 10%, to 2.09 million.
Of those, 22.2% of members are in default schemes. Just over 20% of all the assets invested are with the six defaults.
Last year, 22,634 people turned 65 and were eligible to withdraw their KiwiSaver accounts...MORE»
Monday, October 21st, 9:00AM
Information about KiwiSaver funds' investments should be easier to access and understand from today.MORE»
Thursday, October 17th, 10:39AM
KiwiSaver default providers will be forced to offer investment education and impartial financial advice, the Government has announced today.MORE»
BNZ KiwiSaver Scheme has reached $100 million funds under management, just over six months following its launch in February this year.MORE»
Superlife says it is business as usual for the organisation, despite losing its distribution agreement with TSB.MORE»
AMP has been given the sign-off to combine its two KiwiSaver schemes.MORE»
Fidelity Life has confirmed that it has done a deal to sell its KiwiSaver business to Grosvenor Financial Services which will also see it take an ownership stake in the company.MORE»
Grosvenor says it has no comment to make on reports today that it has bought Fidelity Life’s KiwiSaver business.MORE»