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KiwiSaver & Saving

Cunliffe says Labour will lead savings increase

Cunliffe says Labour will lead savings increase
Wellington, Aug 26 NZPA - Labour will lead the way on increasing savings, opposition finance spokesman David Cunliffe says, but he did not detail how.

Savings working group won't deliver answers, Labour says

Savings working group won't deliver answers, Labour says
Wellington, Aug 25 NZPA - The Labour Party is calling for "bold action" to improve New Zealand's savings rate and says setting up a working group to investigate options won't deliver answers.

Govt wants Kiwis to increase savings with no incentives

Govt wants Kiwis to increase savings with no incentives
By Kate Chapman of NZPA Wellington, Aug 24 NZPA - The savings working group faces what appears to be an insurmountable challenge -- finding a way to convince cash-strapped New Zealanders to put more of their hard earned money into a bank account.

Super fund returns 4.76 pct in July

Super fund returns 4.76 pct in July
Wellington, Aug 23 NZPA - The New Zealand Superannuation Fund recorded a gain in July after two months of negative returns, as equities markets improved.

Business sector warming to compulsory savings

Business sector warming to compulsory savings
Wellington, Aug 17 NZPA - The business sector appears to be gradually warming to the prospect of being involved in compulsory retirement savings schemes.

Now not the time for compulsory savings, says business lobby

Now not the time for compulsory savings, says business lobby
Wellington, Aug 17 NZPA - The Council of Trade Unions (CTU) has big ideas of working towards a compulsory savings scheme where employers make the lion's share of contributions, but a business lobby says now is not the right time to increase the burden.

Too early to lock in compulsory super - Key

Too early to lock in compulsory super - Key
Wellington, Aug 16 NZPA - It was too early to say whether the Government would support compulsory retirement savings, Prime Minister John Key says. Finance Minister Bill English has asked the tax working group to organise a savings working group.

Compulsory retirement savings to be considered

Compulsory retirement savings to be considered
Wellington, Aug 15 NZPA - Compulsory retirement savings are reported to be on the table as part of a wider review of superannuation.

Negative quarter for KiwiSaver diversified funds: Mercer

Negative quarter for KiwiSaver diversified funds: Mercer
Wellington, Aug 11 NZPA - KiwiSaver diversified funds experienced their first negative quarter since March 2009, with negative returns across all fund types for the three months to June, consulting and investment firm Mercer says.

ISI progresses work on standard for fund performance

ISI progresses work on standard for fund performance
The Investment Savings and Insurance Association (ISI) is progressing work on developing a standard for reporting the performance of managed funds.

Retail funds management industry shrinks

The retail funds management industry shrunk during the June quarter, though boutique fund managers did well, according to FundSource. The amount of retail funds under management fell 2.5 percent, or $503 million, to $19.674 billion.

Kiwibank calls for compulsory KiwiSaver membership

Kiwibank calls for compulsory KiwiSaver membership
Wellington, July 2 NZPA - The boss of state-owned Kiwibank wants people to be compelled to join KiwiSaver, with individual contributions rising gradually over the next decade or two to reach 10 percent of income.

A Milestone For First Home Buyers And KiwiSaver

A Milestone For First Home Buyers And KiwiSaver
The clock is ticking and my advice to those that qualify and have time on their side, take action now.

KiwiSaver Popular But People Feel Unprepared For Retirement

KiwiSaver Popular But People Feel Unprepared For Retirement
Wellington, March 18 NZPA - The economic events of the last two years have provided a reality check and left many New Zealanders feeling unprepared for retirement, according to a survey by Mercer.

Some KiwiSaver Contributions To Be Taxed

Some KiwiSaver Contributions To Be Taxed
Finance Minister Bill English says no one should be surprised they will be taxed on their KiwiSaver contributions above the minimum 2 percent.

Tax Error And Axing Fee Subsidy Softens KiwiSaver Changes

Tax Error And Axing Fee Subsidy Softens KiwiSaver Changes
Wellington, Dec 9 NZPA - An overestimate of the costs of tax cuts and axing the annual $40 KiwiSaver fee subsidy is going to soften the blow for low income workers using the savings scheme, Finance Minister Bill English said today.

Government Confirms Changes To Kiwisaver

Government Confirms Changes To Kiwisaver
Wellington, Dec 9 NZPA - The Government has confirmed it will axe the annual $40 fee subsidy it puts into KiwiSaver accounts to help pay for a better deal for low income workers.

Changes For Kiwisaver Take Shape

The Government is understood to be considering axing the annual $40 fee subsidy it puts into KiwiSaver accounts to help pay for a better deal for low income workers.

Govt Looking At Kiwisaver Change

The Government will introduce legislation this week that is likely to include a change to KiwiSaver policy to help low income workers -- costing an additional $700 million over five years.

National To Consider Change To KiwiSaver

National To Consider Change To KiwiSaver
National will consider a union proposal to protect low-income workers from KiwiSaver changes. Prime Minister elect John Key invited and met Public Service Association national secretary Brenda Pilott and Council of Trade Unions economist Peter Conway yesterday.

Cullen Attacks Nats As Kiwisaver Numbers Swell

Cullen Attacks Nats As Kiwisaver Numbers Swell
Finance Minister Michael Cullen has used the release of figures showing 827,000 people are now KiwiSaver members to attack National's plans to "gut" the scheme.

Marac Intends To Join Deposit Guarantee Scheme

Marac Intends To Join Deposit Guarantee Scheme
Wellington, Oct 14 NZPA - Marac Finance has joined the list of financial institutions intending to opt-in to the Government's deposit guarantee scheme.

More Than 800,000 In Kiwisaver

Of the 800,213 people enrolled as KiwiSavers as of last Saturday more than 290,000 were automatically signed up when they started new jobs. Finance Minister Michael Cullen released the figures today. He said it was positive that 29 percent of those in the scheme were aged under 25.

KiwiSaver's Mortgage Diversion Component Relaxed

More KiwiSavers will be able to divert contributions towards repaying their mortgages under changes to the scheme, Finance Minister Michael Cullen announced today.

KiwiSaver Loophole Closed

Parliament has passed law to ensure employers pay contributions to their employees' KiwiSaver accounts and putting workers' rights to rest, and meal breaks and infant feeding breaks into law.

Govt Brings In Bill To Fix Kiwisaver Loophole

The Government has introduced a proposed law change to Parliament which it says will ensure employers meet their obligations to pay contributions to their employees' KiwiSaver accounts.

Lockwood Says He Did Nothing Wrong

National MP Lockwood Smith says his comments about the party having to swallow dead fish to make the public happy do not mean it has any secret agenda. Last night TV3 broadcast secretly recorded remarks Dr Smith made on Friday at the party's conference.

Market Volatility Encourages Investors To Join Kiwisaver: Survey

Wellington, July 23 NZPA - Market volatility is encouraging affluent investors to join up to KiwiSaver schemes, a new survey from KiwiSaver provider ING (NZ) shows.

Govt To Change Kiwisaver Law

The Government is going to change the law so employers cannot pay less to employees in the KiwiSaver scheme than to those who are not.

Key Signals 'Modest Changes' To Kiwisaver

National's leader, John Key, says there will be "some modest changes" to the KiwiSaver scheme if his party wins the election. Mr Key would not give any details today when he was questioned on TV One's Breakfast programme but he said nothing radical would be done.

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