The Government says it will move to fix mistake in the KiwiSaver legislation which makes it less generous than intended.
By Sophie Hazelhurst of NZPA Wellington, June 29 NZPA - KiwiSaver comes into force on Sunday, just six weeks after the Budget made sweeping changes to the benefits to be reaped by those who sign up.
Examples: Greg is 22, and about to start his first job, with a salary of $27,000, paid weekly. He will be automatically signed into KiwiSaver when he starts work.
What is it? Government-sponsored, retirement savings programme.
Wellington, June 29 NZPA - KiwiSavers shouldn't leap into investment decisions, the New Zealand Exchange (NZX) says.
Wellington, June 25 NZPA - With only a week to go before the nationwide introduction of Kiwisaver, a survey has shown more than half of the country's employers still feel they need more information on the scheme.
I read a lot of financial advisors talking up the power of compounding interest. With average deposit rates of around 7 per cent (roughly 4.5 per cent after tax), I can't see how this compounding is a significant advantage.
In 2002 I put $50,000 into a fixed interest account with the BNZ to mature in 2007.
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