Greens chalk up win as default KiwiSavers face fossil fuel ban

Sun, 01 Mar 2020

The Green Party has notched up an election year win, with a complete ban on KiwiSaver default funds in fossil fuel producing companies announced today.And KiwiSaver contributors who fail to decide where to put their money will no longer be put into the lowest-returning, least risky 'conservative' KiwiSaver funds, with the government actioning a long-discussed intention to shift default providers to a 'balanced' fund setting, with a higher proportion of riskier assets such as shares.Contracts for the nine existing default scheme providers end in...

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