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KiwiSaver members better behaved

Tuesday, February 15th 2022, 7:54PM

ASB chief executive Vittoria Shortt says KiwiSaver members are handling market volatility much better now than when Covid-19 first hit markets.

“In 2020, when Covid was first coming onto the scene and we had market volatility, we did see some people moving their KiwiSaver balances," she says.

“This time around, a lot of people have learnt from that, and we are making sure that we are proactively trying to encourage customers to take a long term view.

“There has been quite a lot of market volatility this year and the switching (between KiwiSaver products) has not been anything like what it was.”

"One of the important changes was the removal of the administration fee across all ASB KiwiSaver accounts in October," Shortt said.

She said this had led to an additional $3.9 million being invested on behalf of the bank's KiwiSaver customers by December 31 and she expected that to rise to almost $12 million during the bank's current financial year.

 

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ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
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BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
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CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 ▼6.79 ▼6.65
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Co-operative Bank - Standard 8.40 7.74 ▼7.29 ▼7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
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Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
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Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
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Pepper Money Essential 8.29 - - -
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Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
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Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
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Median 8.64 7.29 7.32 6.65

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