FMA cage-rattling sees Westpac pledge to cut KiwiSaver fees

FMA cage-rattling sees Westpac pledge to cut KiwiSaver fees
Paul McBeth
The Financial Markets Authority is broadening its focus to consider whether KiwiSaver investors are getting value for money but it still believes the cost of managing that money should be cheaper.  In its annual KiwiSaver report, the market watchdog reiterated concerns that management fees hadn't come down in dollar terms, despite the increased competition and greater scale among some providers. The FMA hired Melville Jessup Weaver to conduct an international comparison on fees, which found that KiwiSaver fees appeared higher than their UK c...

More Finance

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

Whineray appointed new Jarden chair
Finance

Whineray appointed new Jarden chair

Fraser Whineray quit as Fonterra's chief operating officer in July 2023.

Murray Jones 19 Jun 2024
Bluebird improves profits after investment in Wiri site
Finance

Bluebird improves profits after investment in Wiri site

Bluebird Foods NZ has posted a profit of $13.2m for the year ended December 2023.

Staff reporters 18 Jun 2024
The danger of seeking out a returns Booster
Finance

Paul McBeth: The danger of seeking out a returns Booster

The FMA needs to move swiftly in its bid to be a related party pooper.

Paul McBeth 18 Jun 2024