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Kiwis Shouldn't Leap Into Investment Decision - NZX

Fuseworks Media
Fuseworks Media

Wellington, June 29 NZPA - KiwiSavers shouldn't leap into
investment decisions, the New Zealand Exchange (NZX) says.

KiwiSaver investors have until October 1 to decide where they
want their investments to be made, but according to NZX there is
still some misunderstanding about the timing for this decision.

"People are feeling pushed into making a decision before the end
of this month," NZX head of products Geoff Brown said.

"However, whilst employees wishing to opt in to KiwiSaver should
do so from July 1, they have three months to make a decision on
their KiwiSaver fund provider. During this time their investment
will sit with the IRD, so they should not feel pushed into making
that decision until they've taken time to do their own research and
decide what's best for them."

Mr Brown said prospective KiwiSavers may be suffering from
"information overload".

"We believe KiwiSavers need to take some time to make an
informed choice and
we encourage them to compare all the schemes on offer. They have
the time to do so," Mr Brown said.

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