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KiwiSaver & Saving

Concern increased retirement contributions could result in backdoor education cuts

Concern increased retirement contributions could result in backdoor education cuts
The education sector union NZEI TE Riu Roa is calling on the government to come clean about how increased employer contributions to Kiwisaver and other retirement schemes will be funded for the education sector.

Key --- for mandate read mockery

Key --- for mandate read mockery
Prime Minister John Key is making a mockery of his promise to seek an election-day mandate on changes to KiwiSaver, says Labour's Finance spokesperson David Cunliffe.

KiwiSaver cuts put further pressure on Health budget

KiwiSaver cuts put further pressure on Health budget
The Government has dumped the cost of health workers' Kiwisaver schemes on to District Health Boards, putting further pressure on budgets that are not keeping up with inflation and an ageing population, says Labour's Health spokesperson Grant Robertson.

Public mandates one of four major Budget policy proposals

Public mandates one of four major Budget policy proposals
The first nationwide post- Budget HorizonPoll shows the Government would not get a mandate to make changes to KiwiSaver, sell up to 49% of state-owned energy company shares or reduce its shareholding in Air New Zealand.

English takes Budget message to investors

English takes Budget message to investors
Finance Minister Bill English leaves on 23 May for Singapore and Hong Kong, where he will speak to business, investment and political leaders about New Zealand's progress in building faster growth and higher national savings.

Ops grant cut sidelines students

Secondary schools will have less to spend on each student next year said Post Primary Teachers Association president Robin Duff. "The Budget does not compensate for inflation in schools' operations grant funding," he said.

Mercer gives Budget pass mark for improving New Zealand's super future

Mercer gives Budget pass mark for improving New Zealand's super future
Today's New Zealand Budget revealed continued baby steps towards a more sustainable retirement income system for New Zealand, and although it missed the opportunity to significantly improve our retirement savings environment, it provided positive steps in terms of managing the increasing economic

Relief from disclosure of changes to KiwiSaver

Relief from disclosure of changes to KiwiSaver
Changes to KiwiSaver in today's Budget Bill may be material to decisions about whether to invest in a KiwiSaver scheme.

PWC: A solid budget for an extraordinary year

PWC: A solid budget for an extraordinary year
"The combined impact of the Christchurch rebuild, high commodity prices and the proposed sell down of a minority stake in certain SOEs have provided the New Zealand Government with the leverage to get the country back to surplus a year earlier than expected," says PwC Chairman John Shewan.

Budget 2011 a relief for ECE centres

Following the early childhood education revenue cuts of Budget 2010, the largest representative body of licensed early childhood centres in New Zealand has greeted Budget 2011 with "a sense of relief".

Zero budget delivers zero hope for families in Rangitikei

"Buckle up and get ready. The lack of bold ideas in this budget will be the big election issue in every town across Rangitikei in 2011," says Labour candidate for Rangitikei, Josie Pagani. Families in Rangitikei struggling to make ends meets have been hit hardest in this budget.

Budget does nothing for working families

Budget does nothing for working families
Working families looking for relief from rapidly rising prices and other costs will be sorely disappointed with today's Budget which will put even greater pressure on households already stretched to breaking point, the country's largest private sector union says.

Budget 2011: A Budget to save NZ's credit rating. Boosting savings better than raising taxes

Budget 2011: A Budget to save NZ's credit rating. Boosting savings better than raising taxes
Today's Budget is designed to save New Zealand's credit rating and lift our national savings rate with KiwiSaver, the Employers & Manufacturers Association says.

KiwiSaver tinkering adds compliance costs to business

Improving savings in productive sectors crucial to economic growth The compliance costs for businesses of administering KiwiSaver contributions continue to mount with each change to the scheme, says Deloitte tax partner Greg Haddon.

Budget 2011: Budget frees up $5.2b for higher priorities

Budget 2011: Budget frees up $5.2b for higher priorities
Budget 2011 has freed up $5.2 billion out to 2014/15 - including $700 million in 2011/12 - to invest in improving frontline public services and reducing debt, Finance Minister Bill English says.

Budget 2011: Government to pursue mixed ownership model

The Government believes there is significant merit in extending the mixed ownership model to four state-owned energy companies and reducing the Crown's majority shareholding in Air New Zealand.

Ratings On New Zealand Unaffected By Government's 2012 Budget

Standard & Poor's Ratings Services said today that contents of the National Party coalition government's proposed 2012 budget are consistent with the assumptions that feed into our sovereign ratings on New Zealand (foreign currency rating AA+/ Negatve/A-1+; local currency rating AAA/Stable/A-

Responsible, balanced Budget for the times - key

Prime Minister John Key says Budget 2011 sets out the next steps of the Government's programme to build faster growth, increase national savings and create sustainable jobs built on savings, exports and productive investment.

Budget 2011: Budget builds growth platform, path to surplus

Budget 2011 builds a strong platform for jobs and growth, sets a credible path back to surplus by 2014/15 and helps increase national savings, Finance Minister Bill English says.

Government hiding its poor economic management behind public sector bashing

The Government needs to show it has more than tinkering skills to offer the country in tomorrow's budget. Economic growth and jobs come from a joined-up economic strategy not from more public sector bashing says the Public Service Association

Regulator Approves Fisher Funds Purchase Of Huljich Kiwisaver

Regulator Approves Fisher Funds Purchase Of Huljich Kiwisaver
Today, the Financial Markets Authority (previously the Office of the Government Actuary) approved the transfer of Huljich KiwiSaver members to the Fisher Funds KiwiSaver Scheme.

Prime Minister's ducking and diving can't hide lack of economic plan

Prime Minister's ducking and diving can't hide lack of economic plan
Throwing those who deliver vital public services onto the dole queue does nothing to create more private sector jobs or economic growth, says the PSA.

iPredict Launches Stocks on Budget 2011 Fiscal Outlook

iPredict Launches Stocks on Budget 2011 Fiscal Outlook
New Zealand's online predictions market, iPredict Ltd, will launch overnight three bundles of stocks aimed at predicting how aggressively the New Zealand Government will seek a return to surplus in this week's Budget.

KiwiSaver growth funds continue run of strong returns - Mercer's KiwiSaver Survey

KiwiSaver growth funds continue run of strong returns - Mercer's KiwiSaver Survey
KiwiSaver funds started 2011 strongly, despite global events, posting positive returns for the second consecutive quarter, according to Mercer's KiwiSaver survey.

Fisher Funds partners with Mike Pero

Fisher Funds partners with Mike Pero
Fisher Funds and Mike Pero Mortgages today announced an agreement for Mike Pero to distribute the Fisher Funds KiwiSaver Scheme.

KiwiSaver should be used to pay down student debt

KiwiSaver should be used to pay down student debt
KiwiSaver members should be able to use their accumulated funds to repay student loans, helping young people to start saving faster and cutting the amount of debt carried by the country as a whole, said Milton Jennings, chief executive of Fidelity Life.

Employers fine with changes foreshadowed for Kiwisaver

Business will be pleased with the Prime Minister's basic plan outlined today aiming to increase the nation's savings to lift economic growth, the Employers & Manufacturers Association says.

KiwiSaver changes will slash 85 million from health and other essential services

KiwiSaver changes will slash 85 million from health and other essential services
If public sector agencies are forced to pay KiwiSaver contributions directly out of their budgets, tens of millions of dollars will be cut from health and other essential services, says the PSA.

Key speech had no answers to economic problems - Labour

Key speech had no answers to economic problems - Labour
Few prime ministerial economic speeches could be as less inspiring or more misleading than John Key's today, says Labour's Finance spokesperson David Cunliffe.

Goff: Cuts will hurt Kiwis but won't fix broken economy

Goff: Cuts will hurt Kiwis but won't fix broken economy
National's plan to cut KiwiSaver and Working For Families will hurt middle and low-income New Zealanders while doing nothing to address the huge economic problems this country is facing, says Labour Leader Phil Goff.

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