Time for financial advisers to step up on KiwiSaver
It and the Commission for Financial Capability are launching a campaign to encourage KiwiSaver members to engage with their annual statements, which this year include an indication of how much income their KiwiSaver account could be expected to generate when they retired.
Rob Everett said the message to most New Zealanders was to start thinking about what sort of retirement they were on track to achieve and what they needed to do to change it if the income level was likely to be insufficient.
“I have always said there is an opportunity for financial advice around KiwiSaver – the question is of when is it at critical mass. But in terms of balances and people getting past 50, I think we must be there at this point.”
He said recent market movements might encourage more people to seek professional advice to work out whether their funds were working as they should.
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