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C & D


What to Do with KiwiSaver Proceeds in Retirement

14 Jun 2017

One of the challenges for KiwiSaver scheme members when they reach the age of sixty five is: should they continue to contribute to the fund, and or stay invested in the fund. Provided one is still in paid employment and can afford to save, then there is nothing lost by continuing to contribute to the fund. A generous employer may even continue to make employer contributions. What you will miss out on is the government’s ongoing contribution.

KiwiSaver – Are You Getting the Right Advice?

30 May 2017

KiwiSaver Schemes are a long-term investment. A forty-year-old will, with all things being equal, be in a KiwiSaver fund until they turn sixty-five. For most people, their KiwiSaver contributions go indirectly to their KiwiSaver provider via the IRD with their employer’s regular monthly or two weekly deductions which include PAYE, the employer’s contribution, the employee’s contribution, child maintenance payments and any other deductions. Effectively it is a “painless” way to invest.

Am I in the Right KiwiSaver Fund?

This is a commonly asked question of financial advisers especially when KiwiSaver investors are in a group default scheme. It is always a bit difficult to answer at the time, given that the first thing an adviser is supposed to do is provide the person with a disclosure statement, before even attempting to answer the question. It is all a bit unusual given that journalists, teachers, and members of parliament can legally answer the question yet the clear majority of them have no qualifications or expertise to do so.

FMA Seeks Clarity about Performance Fees

The FMA recently requested submissions on its draft guidance document on fees and returns from managed funds. This is an area that has been somewhat lacking in the past. It has been very difficult to make a real comparison between the total fees charged by Fund Managers on their respective funds.

Essentially there was some inconsistency in how performance-based fees were disclosed in disclosure statements under the Securities Act, and how managers were calculating 0% PIR returns and fund charges.

Sales and Advice

24 Nov 2015

The Financial Markets Authority (FMA) regularly produces reports on various aspects relating to the finance markets. Their latest release is “Sales and Advice” for the period 1 July 2014 to 30 June 2015. The report covers thousands of advisers and sales people who help invest billions of dollars in financial products each year.

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