News

Youi insurance fined $320,000

16 December 2016

Youi has been fined $320,000 for using misleading sales techniques when attempting to sell policies to people seeking quotes. Interest.co.nz. More>

KiwiSaver fees must be disclosed in dollars from 2018

14 December 2016

Commerce and Consumer Affairs Minister Paul Goldsmith says all KiwiSaver annual statements will have to disclose total fees paid in dollar terms from 2018, however one provider says it should start happening much sooner. Goodreturns.co.nz. More>

KiwiSaver and risk: advice for consumers

14 December 2016

Your grandmother gives you $1000 to invest for her and says, 'Please don't take too much risk with my money'. What does she mean by 'risk'? What is she really saying?" When John Berry, owner of fund manager Pathfinder, was interviewing for a new investment analyst this is one of the questions he asked. "Many of the candidates struggled with this question," Berry says. Stuff.co.nz. More>

FMA Conduct Guide consultation complete

14 December 2016

Final document to be published in the New Year. Chief executive Rob Everett says the true test of any provider's approach to conduct will be on whether they can show customers and the FMA that what they do is considtently effective at producing good consutmer outcomes. FMA.govt.nz. More>

Fidelity Life's key management changes

14 December 2016

Fidelity Life's new chief executive Nadine Tereora has made a number of key management changes to prepare the company for the future. Tereora has been in the role for eight weeks now and decided to make the changes earlier rather than latter as it has been a long transition period between Milton Jenning's retirement and her start date. Goodreturns.co.nz. More>

EY: only 48% of Kiwis trust their banks

14 December 2016

EY consumer banking survey suggests just 48% of New Zealanders feel complete trust in their banks to keep their money safe and protect their personal information. Interest.co.nz. More>

Kiwisaver suspension not a "holiday"

12 December 2016

The right to suspend payments to KiwiSaver schemes should be reduced from five years to one and the so-called ‘contributions holiday’ should be renamed a ‘savings suspension’ to “remove the positive connection... Businessdesk.co.nz. More>

QROPS transfer figures revealed

12 December 2016

If you want to know how any people and how much cash have been transferred to Qualifying Recognised Overseas Pension Scheme (QROPS), the British tax man has at last published some revealing figures. iExpats. More>

Paul Glass on population

12 December 2016

Paul Glass argues New Zealand should target a desired rate of population so we can plan for the necessary infrastructure and housing required rather than trying to play catch up. Interest.co.nz. More>

Ageism threat to retirement

12 December 2016

Retirement Commissioner Diane Maxwell is calling for measures to tackle ageism before raising the age NZ Super is paid from to 67. Stuff.co.nz. More>