Not number one: banks can’t get no (KiwiSaver) satisfaction

ANZ looked after the KiwiSaver interests for almost 735,000 members across its three schemes. (Image: Getty)

Wed, 29 Jun 2022

“A new survey has revealed that New Zealanders prefer to invest in KiwiSaver funds that are not operated by major banks,” some media outlet reported in the wake of the latest Consumer NZ poll of the sector.This is funny because about two-thirds of the 3 million-plus scheme members invest in KiwiSaver schemes operated by major banks.The disconnection between real behaviour and the survey-based sentiment is not really that surprising: only people who have sentiments tend to respond to nosy-parker pollsters; KiwiSaver is notorious for...

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