KiwiSaver

KiwiSaver fees have further to fall: FMA

Dan Brunskill
Tue, 28 Sep 2021

KiwiSaver fees have further to fall: FMA
Paul Gregory said fees paid per member are continuing to trend higher. (Photo: supplied)
Dan Brunskill
Tue, 28 Sep 2021
The Financial Markets Authority expects to see more cuts to KiwiSaver fees after providers earned a record $650 million in the year ended March.Revenue earned from management and administration fees increased 20.7% during the year, as funds under management rose 31.7% to $81.6 billion and strong returns triggered some performance fees.By comparison, combined fees revenue in the “more normal” prior year was $480 million the regulator said.While headline revenue did grow, some downward pressure on fees prevented it from climbing at th...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Economist
NATO holds its most important summit in generations
The Economist | Mon, 27 Jun 2022

Jacinda Ardern becomes the first NZ prime minister to attend a NATO summit, this week in Madrid. The meeting marks a crucial moment in the alliance's approach to both Russia and China, says The Economist.

Transport
The $200m question: funding free public transport in Auckland
Oliver Lewis | Mon, 27 Jun 2022

A new report outlines four possible solutions to a $200m question.

Bloomberg
China’s Economy Improves in June From Lockdown-Induced Slump
Bloomberg | Mon, 27 Jun 2022

Relaxation of covid restrictions helped revive China's economy in June, but the housing sector remains sluggish, metal prices are down and consumers are wary about venturing out to shop.

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.