The Financial Services Council has proposed the adoption of a Government-backed capital guarantee scheme for KiwiSavers putting money into riskier growth funds rather than conservative default funds. Labour described the idea as innovative and one Labour would seriously consider as part of its universal KiwiSaver policy.
NZ First Leader Winston Peters proposed the creation of a state-owned fund manager as an option for KiwiSavers and said it would be a 'bottom line' in any coalition negotiations. Here's a briefing on the details, the pros and the cons and the political positioning.
The Government completed its first seven-yearly review of KiwiSaver default providers and decided to stick with the current policy of directing default funds into conservatively managed funds, rather than adopt the 'lifecycle' approach recommended by the OECD and others. Labour also prefers the 'lifecycle' approach. Here's my briefing on the policy's details, the pros and the cons, the process and the political positioning.
The Financial Services Council (FSC) proposed a package of savings policy reforms on Monday that it said would allow New Zealanders to retire with a private pension twice the size of NZ Super . Here's my briefing with the policy details, the key factoids, the pros and the cons and the political positioning.
The Financial Services Council (FSC) will propose a raft of measures at a conference on Monday to encourage savers to ramp up their KiwiSaver accounts so they can retire comfortably.