News

Grandfathering employer super schemes 'not credible'

4 August 2010

A Government suggestion to force the closure of employer-based defined contribution superannuation plans is a "bombshell" and "not a credible option", according to a commercial lawyer specialising in superannuation.

KiwiSaver funds double with 1000 joining daily

1 July 2010

Investors have $5.5 billion in KiwiSaver funds, more than double the amount a year ago, with 1000 new members joining every day, according to an investment strategist.  People put about $2.85b in contributions into KiwiSaver funds in the year to March, according to actuaries and investment strategists Eriksen and Plan For Life.

Regulation not strangulation for KiwiSaver please

14 May 2010

An industry body argues the biggest risk to KiwiSaver is over-zealous regulation, rather than fund manager behaviour.

No tax on KiwiSaver first home subsidy

5 May 2010

Changes were made to the tax rules by Order in Council this week to allow the KiwiSaver first home deposit subsidy to be treated as a social assistance suspensory loan for tax purposes.

KiwiSaver engagement "vital"

3 May 2010

MEDIA RELEASE: Effective engagement with all KiwiSaver stakeholders in the face of further regulatory change is vital to the ongoing success of the scheme, according to Workplace Savings NZ, the voice of workplace savings.

Guiding employees on workplace savings

26 April 2010

New legislation affecting financial advisers will also have an impact in the workplace.  David Ireland explains how new ground rules will affect employers, and outlines the risks involved in failing to comply with them.  As published in May 2010 edition of Employment Today magazine.

Important Information on Draft Code and Consultation

31 March 2010

The Code Committee has today released the draft Code of Professional Conduct for Authorised Financial Advisers (AFAs), and has called for submissions on the draft Code.

Financial Service Providers (Pre-Implementation Adjustments) Bill

26 March 2010

Workplace Savings NZ has prepared a submission to the Commerce Select Committee in response to the Financial Service Providers (Pre-Implementation Adjustments) Bill 2009.  Click to read our submission in full.

Changes to tax on interest and PIE investments

24 March 2010

You may be affected by these changes.   The rates of tax you pay on interest earned from money in the bank and portfolio investment entity (PIE) investments are changing to align with the personal and company tax rate changes introduced in April 2009. These tax changes apply from 1 April 2010.

Power's wakeup call - the end to KiwiSaver dreams?

18 March 2010

New Zealand's KiwiSaver industry is now at the point where the competitive spirit is blossoming - with about $5 billion at stake now and a, more or less, guaranteed growth path for the next 20 years, scheme providers are jockeying for position.