News

Ireland unveils pensions overhaul

4 March 2010

The Irish government unveiled a set of sweeping reforms to the country's pension system which include raising the state retirement age to 68 and the introduction of a mandatory scheme for all workers in the coming years.   The new National Pensions Framework foresees state pension age will increase from 65 to 66 in 2014, then to 67 in 2021 and 68 in 2028. The government also committed to retain the level of state pension at 35% of average weekly earnings.

KiwiSaver transfer process needs streamlining

19 February 2010

Workplace Savings NZ - the voice of workplace savings - says streamlining the transfer process between different providers is necessary to improve the KiwiSaver experience.   The comments follow a meeting of KiwiSaver providers in Auckland this week.

PM wants NZ to be super-fund 'hub'

15 February 2010

Prime Minister John Key wants New Zealand to become an international financial hub specialising in the administration of overseas pension funds.

Workplace Savings NZ Submission on the Taxation Bill

10 February 2010

Workplace Savings NZ has today submitted the following response to the Finance & Expenditure Select Committee on the Taxation (Annual Rates, TransTasman Savings Portability, KiwiSaver, and Remedial Matters) Bill.  Click to read more.

PM signals tax reform changes

9 February 2010

In his Statement at the opening of Parliament today, Prime Minister John Key said measures to reform the tax system would be introduced as part of the Budget in May. Any changes would be based on "equity and fairness". Mr Key has signalled changes to the way property is taxed, changes to personal income tax rates and says further work will be done on whether the rate of GST should be increased. He also said the Government had ruled out developing any proposals for a land tax, a general capital gains tax or a risk-free return method for taxing residential investment properties.

Overhaul of tax system possible - English

3 February 2010

The budget will be delivered on May 20 but New Zealanders may get a better idea about the Government's plans for the tax system next week, Finance Minister Bill English said yesterday. 

The Pension Communications Project 2010

1 February 2010

Defined Contribution (DC) pension plan members in the UK have low engagement with their retirement benefits.  To help address this important issue, a syndicate of leading UK pensions industry firms have sponsored a project to learn from examples of pensions workplace communications excellence around the world.

Commission to clarify definition of financial planning service

29 January 2010

The Securities Commission says it recognises that financial advisers are confused about the Financial Advisers Act definition of a "financial planning service" and it is working on giving the definition more clarity.

Financial Service Provider Act changes ‘provide relief for employers’

11 December 2009

The recent introduction to parliament of the Financial Service Providers Bill will offer more certainty to employers who assist their employees with retirement savings arrangements.

New research quantifies "comfortable" retirement

10 November 2009

New research across the Tasman has quantified the annual income needed by retirees to fund either a comfortable or modest standard of living in retirement.