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South Island tribe looks to add KiwiSaver scheme

Sunday 19th of November 2017

Te Rūnanga oto Ngāi Tahu is seeking expressions of interest from KiwiSaver providers to see if it could offer a scheme to tribal members their own scheme and it is looking to see if  additional risk options, or investment choice, could be added to its exisiting savings scheme in the near future.

Eleven years ago the iwi's investment arm, Whai Rawa, launched a unit trust to help build the wealth of Ngāi Tahu individuals. It currently has more than 24,000 members out of a tribal registration of 59,000 and investments total $64 million.

The current offering is a lower-risk conservative fund only and invests into one of Mercer's funds.

Whai Rawa executive director David Tikao says a survey of current members showed that the majority already had KiwiSaver accounts, and that the take up of KiwiSaver amongst this group is higher than the national average.

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Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
1 day ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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FMA outlines its latest expectations for advisers
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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