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<p>Our thoughts and deepest sympathies are with the victims of the Christchurch shootings and their families. We would also like to acknowledge the bravery of the NZ Police and paramedics involved.</p>
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March 12 (BusinessDesk) - The median value of KiwiSaver nest eggs grew to $13,000 at June 30 last year, up 62 percent or $5,000 from three years earlier, Stats NZ says. The growth reflects employee, employer and government contributions as well as any investment gains.
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Thanks to all those members who have joined Generate over the last eleven quarters. We hope we have repaid your trust with the top performance rankings achieved and service. In the latest Workplace Savings NZ Report Generate has been the fastest (%) growing KiwiSaver Scheme in their league tables, by funds under management, in each of the last 11 quarters.
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The latest Morningstar KiwiSaver Survey has been released. While 2018 was a volatile year for KiwiSaver funds, all three Generate funds performed very strongly versus the competition. Ranking 1st, 1st and 3rd in their respective categories for 2018 and 1st, 2nd and 3rd over the past five years. As a New Zealand owned and operated KiwiSaver specialist we are delighted to have achieved these results for our members. The results are measured on a net return after fees are paid basis. This means not only great relative performance but - importantly - excellent value for money.
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A major Australian Productivity Commission report on superannuation presents an opportunity to compare retirement savings on both sides of the Tasman. Unfortunately, the comparisons are not flattering — New Zealanders have private superannuation assets of only $17,100 per capita compared with A$111,300 ($118,400) per capita in Australia. Why do New Zealanders have significantly less retirement assets than Australians and how can we reduce this massive gap?
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A new survey shows 62 per cent of Kiwis believe they need to be saving more than they are with 56 per cent of those above 60 saying they don't have enough saved. "We don't know how long we are going to live, when we are going to retire and what our work life is going to look like so this is where good planning comes into it."
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We think volatility is likely to continue and as an active manager we hope to capitalise on it.
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New Zealand KiwiSaver balances are growing. If you've got an increasingly sizeable chunk sitting in your account, you might wonder how safe that money is. Part of that licensing process requires fund managers to have client money held by a third party. "The assets of all the KiwiSaver schemes are held in trust, meaning the assets are not directly owned by the provider itself," Mulholand said.
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Taking a tour of the investments made by your KiwiSaver fund is like taking a tour of the world. Falls in international sharemarkets are teaching KiwiSaver that their retirement savings aren't invested entirely in bank term deposits. A decade after launch, KiwiSaver appears to still be a bit of a mystery to many people putting money into it from their pay packets. A large chunk of KiwiSaver money is invested in company shares, and in interest-paying bonds, here in New Zealand. But more than half of KiwiSaver money heads overseas giving KiwiSavers stakes in some of the world's largest, most successful companies.
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Being in the wrong KiwiSaver scheme has been compared to throwing away a first division-winning Lotto ticket. More than 400,000 Kiwis continue to invest in default KiwiSaver funds, which are more conservative. They're much less likely to lose money when the market tanks, but the long-term returns are generally lower than more aggressive schemes.
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