FMA warns - don't treat KiwiSavers as 'cash cows'

Posted by in Kiwisaver on

The head of New Zealand's investment regulator has fired a warning shot at KiwiSaver providers urging them to be more proactive in engaging with their members.

Rob Everett, chief executive of the Financial Markets Authority, said KiwiSaver providers could not afford to treat members as "cash cows" raking in millions of dollars in fees a year without doing anything to communicate with them other than the minimum.

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