KiwiSaver replacement therapy: looking for an alternative high

People are interesting but it’s money that matters with the net transfer figures generally reflecting the member-shifting behaviour. (Image: Getty)

David Chaplin

Wed, 18 Aug 2021

The big Australian-owned KiwiSaver providers have been suffering withdrawal symptoms of late.It’s not an entirely new phenomenon, schemes owned by Australian-headquartered organisations have been slowly bleeding market share to local providers for a few years.However, the transfusion rate picked up pace during the 12 months to March 31 this year with all four of the big-Aussie providers – AMP, ANZ, Westpac and ASB – reporting net declines in both member numbers and in fund outflows to rivals.This is the first time in the 14-ye...

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