Shifting gears: Why more KiwiSaver members are on the move

(Image: Getty)

Wed, 31 Jan 2024

The KiwiSaver marketing machine shifted down a gear during the 2022/23 financial year to almost idling speed.According to the Financial Markets Authority (FMA) 2023 report on the sector, the number of member transfers between KiwiSaver schemes fell to 131,260 over the 12 months to the end of March, “down 16.8% on 2021, and the lowest number since 2013”. While its reporting period is out of sync with the FMA, Inland Revenue Department (IRD) figures roughly agree, counting just under 127,000 members who changed KiwiSaver provider...

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