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KiwiSaver & Saving

Nearly 470,000 KiwiSavers Signed Up

Nearly 470,000 people have signed up for KiwiSaver ahead of next month's introduction of employer contributions to the scheme, the Government said today.

Employers Report Low Take Up Of KiwiSaver - Survey

Wellington, Feb 21 NZPA - Employees' takeup of KiwiSaver has been low, with 20 percent of mid-sized businesses reporting no staff signing up, according to a survey today.

Kiwis Expect To Retire Later Than Aussies

Wellington, Feb 18 NZPA - Working New Zealanders expect to retire later than their Australian counterparts, a Mercer study on retirement preparations has found.

KiwiSaver Numbers Pass 400,000 Mark

The number of people signed up for KiwiSaver has passed the 400,000 mark far faster than expected.

National To Discuss KiwiSaver Policy

By Ian Llewellyn of NZPA Rotorua, Jan 31 NZPA - National MPs will today discuss economic policy and whether to back the work place saving scheme KiwiSaver.

KiwiSaver Will Increase Inequality In Elderly - Research

Wellington, Jan 28 NZPA - KiwiSaver will increase inequality and benefit the wealthy, according to research conducted at Waikato University. Over 380,000 people have joined KiwiSaver to take advantage of tax-breaks and a $1000 kick-start payment.

More NZers Preparing For Retirement, But Wary Of Risk - Survey

Wellington, Jan 28 NZPA - The proportion of New Zealanders saying they are preparing for their retirement is rising, but their appetite for risk is low, a new survey shows.

"Verdict On KiwiSaver Is In" Says Cullen

"The verdict on KiwiSaver is in," Finance Minister Michael Cullen said today. "New Zealanders want to save for a better retirement and they know KiwiSaver makes that easier than ever before."

Business Ambushed On Savings Compulsion

Wellington, Dec 26 NZPA - Finance Minister Michael Cullen broke the drought of boring budgets this year with a major budget announcement he didn't consult business about. He as good as introduced compulsory superannuation.

National And Labour Commit To Retaining Super Entitlements

Both National and Labour have committed to retaining superannuation entitlements at current levels. Retirement Commissioner Diana Crossan has suggested the minimum age of eligibility for superannuation may need to be raised from 65 to 66 or 67.

Kiwi Savers Using Default Option

Wellington, Dec 17 NZPA - About 50 percent of those who have joined KiwiSaver have ended up with a default provider to manage their money assigned by Inland Revenue (IRD), rather than making the choice themselves.

Changes To KiwiSaver Legislation

The Government is making changes to the KiwiSaver legislation which is before Parliament.

KiwiSaver Numbers Pass 300,000 Mark

The number of people joining KiwiSaver continues to defy initial expectations with more than 316,000 New Zealanders signing up in just the first five months, Finance Minister Michael Cullen and Revenue Minister Peter Dunne said in a joint statement today.

Savings Plunge To 14-Year Low, Cullen Says

New Zealand's savings rate has fallen to its lowest level in 14 years which underscores the importance of the KiwiSaver scheme, Finance Minister Michael Cullen says.

KiwiSaver Growing Three Times Faster Than Expected - Cullen

KiwiSaver enrolments are growing three times faster than predicted, Finance Minister Michael Cullen says.

People Fear Living Expenses Squeeze As A Result Of KiwiSaver

By Alister Thomson of NZPA Wellington, Oct 24 NZPA - A study of 508 workers found half expected to join KiwiSaver, but feared they would have difficulties paying their household expenses as a result.

NZ Saving Crisis Overstated, Beware Pro-Saving Policies - NZIER

Wellington, Oct 13 NZPA - New Zealand's often-cited household savings crisis has been overstated, and pro-saving policies such as KiwiSaver may hurt rather than help growth, the New Zealand Institute of Economic Research (NZIER) said today.

KiwiSaver Enrolments Pass 200,000 Mark

KiwiSaver enrolments have broken through the 200,000 mark in the first three months of the scheme's operation, the Government said today.

Minister Announces New Disclousure Rules For KiwiSaver Schemes

Finance Minister Michael Cullen and Revenue Minister Peter Dunne said people enrolled in the schemes had the right to know about the environmental and social credentials of the investments made on their behalf.

KiwiSaver Uptake About 130,000, Cullen Says

About 130,000 people have so far enrolled for the KiwiSaver scheme, Finance Minister Michael Cullen told Parliament today.

Employers Claim They Were Ambushed Over KiwiSaver Changes

A business lobby group say employers were "ambushed" by changes to the KiwiSaver scheme which will create industrial unrest for years to come.

100,000 KiwiSaver Investors By The End Of This Month - Cullen

Finance Minister Michael Cullen says he is "absolutely certain" there will be more than 100,000 people enrolled in the KiwiSaver scheme by the end of this month.

Early Indications KiwiSaver Is Exceeding Expectations

The number of people signing up to the KiwiSaver appears to be far exceeding the Government's expectations.

Greens Find Only One Ethical Investment KiwiSaver Provider

Wellington, Aug 2 NZPA - A Green Party study says only one KiwiSaver scheme can be described as providing a "responsible investment" option.

ASB Balanced Lowest Fees For Default KiwiSaver Providers - Analyst

Wellington, July 19 NZPA - ASB Bank charged the lowest management fees for its balanced fund among the six default KiwiSaver providers, according to managed fund analyst Trident Research.

KiwiSaver Managers Should Be Made To Disclose All Fees - Morgan

By Simon Louisson of NZPA Wellington, July 18 NZPA - KiwiSaver critic and provider Gareth Morgan said the Government is missing out on a chance to force fund providers to reveal all on fees and expenses.

More Than A 3rd Of NZ Adults Plan To Join KiwiSaver

Wellington, July 15 NZPA - More than a third of New Zealanders aged between 18 and 65 say they are going to join KiwiSaver, poll results released today show.

Legislation Needed To Fix KiwiSaver Glitch

The Government says it will move to fix mistake in the KiwiSaver legislation which makes it less generous than intended.

Amounts Potentially Accured On KiwiSaver

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.

Factbox On KiwiSaver

What is it? Government-sponsored, retirement savings programme.

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